BUSINESS STUDIES

Froggy Jumps

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Supply and Demand

Aristaricus Andalo

Kenya

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BUSINESS STUDIES


Froggy Jumps BUSINESS STUDIESVersion en ligne Supply and Demand par Aristaricus Andalo 1 Define financial discipline a Process of control and monitor b It is the practice of making informed decisions about earning spending and saving money c Process coming up with targets 2 State one way of gathering information about the market a Surveys b feedback c information 3 Which one is a factor that affect demand for a product a Price of the product b Size c Colour 4 What happens when demand increases but supply remains constant? a Price decreases b Price increases c Quantity decreases 5 Which of the following would cause a shift in the demand curve? a Change in production technology b Change in consumer income c Change in number of suppliers 6 If the price of a substitute good rises, what happens to demand for the original good? a Demand decreases b Demand increases c Supply increases 7 What is the law of demand? a As price rises, demand rises b As supply rises, demand falls c As price rises, demand falls 8 Which factor shifts the supply curve to the right? a Increase in production costs b Improvement in technology c Higher taxes on producers 9 When supply decreases and demand remains constant, what happens? a Price falls b Price rises c Quantity supplied increases 10 What is equilibrium price? a Price at which demand is zero b Price at which supply is zero c Price where quantity demanded equals quantity supplied