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WorksheetsEconomics Demand and Supply Quiz
Total questions: 12
Worksheet time: 6mins
What is joint demand?
When a good or service is demanded for multiple purposes
When the demand for a good is derived from the demand for another related good
When an increase in the demand for one good leads to a decrease in the demand for another good
When two or more goods are demanded together to fulfill a specific need or want
What is competitive supply?
When the demand for a good is derived from the demand for another related good
When two or more goods require the same resources or inputs to be produced
When the supply of a single good or resource comes from multiple sources
When the production of one good results in the production of another good
What is derived demand?
When two or more goods are demanded together to fulfill a specific need or want
When the demand for a good is derived from the demand for another related good
When a good or service is demanded for multiple purposes
When the production of one good results in the production of another good
What is composite supply?
When the supply of a single good or resource comes from multiple sources
When the production of one good results in the production of another good
When two or more goods require the same resources or inputs to be produced
When two or more goods are demanded together to fulfill a specific need or want
What is competitive demand?
When an increase in the demand for one good leads to a decrease in the demand for another good
When two or more goods are demanded together to fulfill a specific need or want
When the demand for a good is derived from the demand for another related good
When a good or service is demanded for multiple purposes
A surge in demand for palm oil leads to an increase in the supply of palm kernel shells. This scenario best illustrates:
Competitive supply
Joint supply
Composite supply
None of the above
A bakery experiences an increase in demand for flour, yeast, and sugar as it expands its production of pastries and bread. This situation illustrates:
Joint demand
Competitive demand
d) Composite demand
Derived demand
The demand for torch and batteries is an example of
competitive demand
composite demand
joint demand
derived demand
The demand for factors of production is an example of?
joint demand
competitive demand
composite demand
derived demand
Domino Pizza, Debonaire Pizza and Dodo Pizza are all located on Main street. This scenario best illustrates:
joint demand
composite supply
competitive demand
joint supply
Which of the following scenarios best illustrates joint demand?
An increase in the price of tennis rackets leads to a decrease in the demand for tennis balls.
An increase in the price of gasoline leads to an increase in the demand for electric cars.
An increase in the demand for smartphones leads to an increase in the demand for houses.
An increase in the price of coffee leads to a decrease in the demand for tea.
Which of the following scenarios best illustrates competitive demand?
An increase in the price of tennis rackets leads to a decrease in the demand for tennis balls.
An increase in the price of coffee leads to an increase in the demand for tea.
An increase in the price of gasoline leads to an increase in the demand for electric cars.
An increase in the demand for smartphones leads to an increase in the demand for phone cases.
