Demand and supply quiz (Singapore O-Level Economics 2286) quiz
15questions. Pick an answer and you'll see why right away.
What does the law of demand state?
Why does the demand curve slope downward?
What does 'effective demand' mean?
What does the law of supply state?
Why does the supply curve slope upward?
An increase in consumer income raises the demand for restaurant meals. This is best described as:
Which of these would shift the demand curve for petrol cars to the LEFT?
Which factor would shift the supply curve for bread to the RIGHT?
A government places an indirect tax on cigarettes. What happens to the supply curve?
The price of a good rises and the quantity supplied increases. This is:
What is the difference between 'demand' and 'quantity demanded'?
Improved technology lowers the cost of producing solar panels. The effect on the supply curve is:
Which event causes a MOVEMENT along the demand curve for ice cream rather than a shift?
Sugar and coffee are complements. If the price of sugar rises sharply, what happens to the demand curve for coffee?
Poor weather destroys part of a country's wheat harvest. In the wheat market this causes: