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WorksheetsDemand & Supply
Total questions: 30
Worksheet time: 13mins
slopping downward from left to the right is referring to
supply curve
demand curve
supply and demand
none from the above
a movement along the demand curve is due to the factor of
whether
price of related goods
price of the good itself
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a SHIFT in the supply curve is due to the factors of
price of the good itself
income
technology
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Printers and ink cartridges are typically purchased together. Economists would call these
Substitute goods
Complementary goods
Inferior goods
compulsory goods
A table that lists the quantity of a good that a single person will buy at each price in a market.
individual demand schedule
market demand schedule
individual supply schedule
market supply schedule
Generally, the lower the price of a goods, the smaller the quantity demand of the goods will be.
True
False
The definition of demand in an economic perspective is ________________.
the desire to purchase goods and services at a certain price.
the desire of all individuals in a market to purchase goods.
the desire of an individual to obtain goods and services, supported by the ability to pay a certain price.
he ability of an individual to spend his/her income to purchase goods and services.
The law of demand shows the relationship between __________________.
consumer’s income and demand.
population and demand.
demand and supply.
price and quantity demand.
Assuming other factors do not change, an increase in the price of pen will cause the demand curve for ink to __________________.
remain unchanged.
shift to the left.
shift to the right
become steeper.
Which of the following pair are substitute goods?
Salt and pepper.
Apples and oranges.
Tea and sugar.
Car and gas.
Any increase in the quantity demanded of a product due to its price reduction will be shown by ______________.
a shift of the demand curve to the right
a shift of demand curve to the left.
a downward movement along the same demand curve.
movement along the same demand curve.
Which of the following factors cause a shift in a demand curve?
Consumer’s income.
Producer’s goals.
Level of technology.
Price of the goods.
Any decreases in the supply quantity of a product due to its price reduction will be shown by ______________.
an upward movement along the supply curve.
a downward movement along the supply curve.
a shift of the supply curve to the left.
a shift of the supply curve to the right.
Which of the following situations will NOT cause the supply curve for goods to shift?
Changes in technology.
Changes in taxation structure.
Changes in the price of the goods itself.
Changes in the price for factors of production.
As the price of eggs increases, Sophie's production of cakes
increases the supply of cakes
decreases the supply of cakes
increases the quantity supplied of cakes
decreases the quantity supplied of cakes
Movement along the demand curve for high rise apartments will be caused by a change in
consumers' income
consumers' taste and preferences
the price of the high rise apartments
the price of single-storey link houses
What determines the shift of supply curves?
(a)
