Economics Quiz 3 Microeconomics

10 Questions  I  By Cha24ampong
Please take the quiz to rate it.

 Economics Quiz 3 Microeconomics
This is an interactive quiz on microeconomics precisely demand, supply and markets

  
Changes are done, please start the quiz.


Questions and Answers

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  If the demand curve for good X is downward-sloping, an increase in the price will result in
A.
B.
C.
D.
E.
Discuss this Question
2.  The law of demand states that the quantity demanded of a good changes, other things being equal, when
A.
B.
C.
D.
3.  Which of the following is the result of a decrease in the price tea, other things being equal?
A.
B.
C.
D.
Discuss this Question
4.  Which of the following will cause a movement along the demand curve for X?
A.
B.
C.
D.
Discuss this Question
5.  Assuming that beef and pork are substitutes, a decrease in the price of pork will cause the demand curve for beef to
A.
B.
C.
D.
6.  Assuming that  coffee and tea are substitutes, a decrease in the price of coffee, other things being equal, results in a (an)
A.
B.
C.
D.
Discuss this Question
7.  Assuming steak and potatoes are complements, a decrease in the price of steak will
A.
B.
C.
D.
Discuss this Question
8.  Assuming that steak is a normal good, a decrease in consumer income, other things being equal, will
A.
B.
C.
D.
9.  An increase in consumer income, other things being equal, will
A.
B.
C.
D.
Discuss this Question
10.  Yesterday, seller A supplied 400 units of a good X at $10 per unit. Today, seller A supplies the same quantity of units at $5 per unit. Based on this evidence, seller A has experienced a (an)
A.
B.
C.
D.
E.
Discuss this Question
Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz
We have sent an email with your new password.