Demand and Supply IB Quiz

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Test your understanding of Demand and Supply.

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Ms Marsden

United Arab Emirates

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Demand and Supply IB Quiz


Demand and Supply IB QuizVersion en ligne Test your understanding of Demand and Supply. par Ms Marsden 1 What causes a movement along the demand curve? a A change in the price of a substitute b A change in consumer tastes c A change in consumer income d A change in the price of the good 2 In the law of demand, what happens when price falls? a Quantity demanded falls b Demand becomes constant c Demand curve shifts left d Quantity demanded rises 3 What could shift the demand curve to the right? a Higher price of the good b Increase in consumer income (normal good) c Increase in production costs d Decrease in number of buyers 4 A decrease in production costs shifts the supply curve... a Causes demand to rise b Leftward (decrease in supply) c Becomes perfectly inelastic d Rightward (increase in supply) 5 Equilibrium price is where... a Demand exceeds supply b Supply exceeds demand c Price floor is set d Quantity demanded equals quantity supplied 6 Which is a non-price determinant of demand? a Cost od production b Consumer income c Production technology d Price of the good 7 If the price of tea rises, demand for coffee tends to... a Remain unchanged b Become perfectly inelastic c Increase (substitute goods) d Decrease (complements) 8 Ceteris paribus means .......... a 'The next best alternative forgone' b 'All other things being equal' c 'All other things uncertain' d 'Dependent on variables' 9 A normal good is when .... a As income rises, the demand curve will shift to the right b As income rises, the demand curve will shift to the left c As income rises, there is a movement along the demand curve d As income rises, there is no change 10 The two most common ways that government intervene to alter supply is.... a Population and income b Employment and inflation c Subsidies and inflation d Indirect taxes and subsidies

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Demand and Supply IB Quiz

Test

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

Top Jeux

Test

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Test

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Demand and Supply IB QuizVersion en ligne

par Ms Marsden

What causes a movement along the demand curve?

In the law of demand, what happens when price falls?

What could shift the demand curve to the right?

A decrease in production costs shifts the supply curve...

Equilibrium price is where...

Which is a non-price determinant of demand?

If the price of tea rises, demand for coffee tends to...

Ceteris paribus means ..........

A normal good is when ....

The two most common ways that government intervene to alter supply is....