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WorksheetsReview: Supply & Demand
Total questions: 10
Worksheet time: 8mins
The higher the price, the lower the quantity that consumers are willing and able to buy or purchase, on the other hand, lower the price, the higher the quantity that consumers are willing to buy or purchase.
Law of Supply
Shift in Supply
Law of Demand
Shift in Demand
Determinants Affecting Demand (a) (b) (c) (d) (e)
Determinants Affecting Supply (a) (b) (c) (d) (e)
shows an inverse relationship between demand and price.
(a)
If the demand curve shifts right, it decreases
TRUE
FALSE
The demand curve is downward sloping.
TRUE
FALSE
The supply curve is downward sloping.
TRUE
FALSE
If the supply curve shifts right, supply increases.
TRUE
FALSE
shows direct relationship between prices and quantity supplied.
(a)
The higher the price, the higher the quantity that sellers or producers are willing and able to supply, on the other hand, the lower the price, the lower the quantity that sellers or producers are willing to and able to supply.
Law of Demand
Law of Supply
Shift in Supply
Shift in Demand
