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WorksheetsEconomics ( Demand Theory)
Total questions: 5
Worksheet time: 3mins
Which of the following could lead to an extension or contraction of the demand curve.
Price of that product
Price of other goods
Change in consumer tastes
Habit forming in consumption of a product
All other factors shift the demand curve for an economics textbook, except
An increase in the price of a substitute textbook
Increase in the number of people studying economics
A change in people's incomes
A change in the price of an economic textbook
Explain what is meant by effective demand
(a)
A fall in income could cause a demand curve to shift to the left.true/false
(a)
When the price of a commodity x is reduced,the demand for the commodity y falls.Good x and y are said to be.
Jointly demanded
Competitively demanded
Competitively supplied
Jointly supplied
