Demand Quizzes & Trivia

In a free market economy, prices are determined largely by supply and demand. Demand does not simply mean how much people want something. Economists consider demand to be a buyer’s willingness to pay for something. Did you know that when economists record changes in demand, it is called a demand schedule?

Do you know what it’s called when they plot that information on a graph? While some items affecting demand are hard to measure, like a consumer’s tastes. But can you list some of the measurable factors that economists use to predict demand? If you answered the good’s price, the price of related items, and disposable income, then you might be ready to test yourself! Take some of our quizzes and see how you measure up!

Demand Questions and Answers


  • Fill in the blank According to ____________, when price decreases, demand rises, and when price increases, demand falls.
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  • Fill in the blank______________ is the willingness to buy a product and the ability to pay for it.
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  • What kind of shift in demand does this graph show?
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  • Price is the determining factor of both suppy and demand?
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  • The law of supply clearly states that
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  • Demand
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  • The MMS KPIs defined for Demand Planning are:(You can select more than one answer) (MMS: Minimum Mandatory Standards, KPI: Key Performance Indicator)
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  • In Demand Planning you can see how many years of historical data and future forecast
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  • Which planning book/books are used for forecast generation? (You can select more than one answer)
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  • What is the law of demand?
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  • The expression ceteris paribus means: 
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  • Demand curves should be convex to the origin, but economists usually draw them as:
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