Looking for the law of demand practice quiz questions with answers? You have reached the right place. Take this quiz and test your knowledge regarding demand-supply. Law of demand is a basic principle of economics. This quiz is designed to check your understanding of the basic principles of demand. For instance, the law of demand, the demand curve, the factors that affect demand, and the elasticity of demand. So, play this demand quiz and make your memory sharp.
The Law of Diminishing Marginal Utility
Adam Smith
The Law of Demand
The elasticity of demand
Quantity
Demand
The Law of Demand
Elasticity
An increase in demand
A decrease in demand
Slightly increase in demand
Saturation point
An increase in demand
A decrease in demand
Slightly decrease in demand
Saturation point
An inferior good
A normal good
A complementary good
A neutral good
An inferior good
A normal good
A complementry good
A neutral good
The quantity demand for XBOX 360 will decrease
The quantity demand for XBOX 360 will not change
The quantity demand for XBOX 360 will increase
The quantity demand for XBOX 360 will reach at a saturation point
The quantity demand for cookies will decrease
The quantity demand for cookies will not change
The quantity demand for cookies will increase
The quantity demand for cookies will reach at a saturation point
Increasing; decreasing
Decreasing; increasing
Elastic; inelastic
Inelastic; elastic
Increase in price of the substitutes
Increase in income of the consumer
Decrease in price of the complementary good
All of these
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