Demand & Supply Quizzes, Questions & Answers

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Law of Demand

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Determinants of Demand

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Law Of Demand Quizzes

law of demand quiz questions with answers

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 ...

Questions: 10 | Attempts: 12854 | Last updated: Aug 21, 2025

Sample Question
According to ____________, when price decreases, demand rises, and when price increases, demand falls.

The Law of Diminishing Marginal Utility

Adam Smith

The Law of Demand

The elasticity of demand

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Law Of Supply Quizzes

Supply and Demand Quiz

The 'Supply and Demand Quiz' tests understanding of basic economic principles such as markets, demand, supply, and price mechanisms. It assesses the ability to identify and explain...

Questions: 10 | Attempts: 1602 | Last updated: Mar 21, 2025

Sample Question
A group of people buying and selling goods or services. This is the definition for:

Demand

Equilibrium

Market

Supply

How well do you know The Law Of Supply?

Do you understand the law of supply well? With this law of supply quiz, you can see how updated your knowledge is. The law of supply is about the fundamental principle of economic ...

Questions: 10 | Attempts: 128 | Last updated: Oct 16, 2025

Sample Question
What does the 'Law of Supply' state?

As prices decrease, supply increases.

As price increases, quantity demanded decreases.

As price increases, supply increases.

As price decreases, quantity demanded decreases.

Economics Supply Fundamentals Quiz: Chapter 5 Section 1

Enhance your understanding of Supply Economics with our focused quiz. It assesses key concepts from Chapter 5 Section 1, ideal for students preparing for advanced placements or int...

Questions: 10 | Attempts: 21 | Last updated: Aug 04, 2025

Sample Question
What is supply?

The amount of a product that could be bought at all possible prices that could prevail in the market

The quantity of a product available for sale in the market.

The demand for a product in the market.

The price at which a product is sold in the market.

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Market Equilibrium Quizzes

Price Determination In Market: Quiz!

This quiz titled 'Price Determination In Market' assesses understanding of market equilibrium, marginal revenue, and profit maximization. It challenges learners to apply economic p...

Questions: 90 | Attempts: 1138 | Last updated: Mar 22, 2025

Sample Question
In the table below what will be equilibrium market price? Price Demand(tonnes per annum) Supply(tonnes per annum) 1 1000 400 2 900 500 3 800 600 4 700 700 5 600 800 6 500 900 7 400 1000 8 300 1100

Rs.2

Rs.3

Rs.4

Rs.5

PRACTICE QUIZ CHP 8

The 'PRACTICE QUIZ CHP 8' assesses understanding of microeconomic concepts such as profit maximization, revenue curves, and competitive market conditions. It tests skills in applyi...

Questions: 30 | Attempts: 951 | Last updated: Mar 22, 2025

Sample Question
If managers do not choose to maximize profit, but pursue some other goal such as revenue maximization or growth,

They are more likely to become takeover targets of profit-maximizing firms

Their companies are more likely to survive in the long run

They are more likely to have higher profit than if they had pursued that policy explicitly

They are less likely to be replaced by stockholders

Equilibrium science quiz questions

Explore the dynamics of market equilibrium through this engaging quiz. Assess your understanding of equilibrium prices and quantities, market responses to shortages, and the mechan...

Questions: 23 | Attempts: 739 | Last updated: Mar 21, 2025

Sample Question
(Figure: Equilibrium) Refer to the figure. The equilibrium price (in $) is:

8

10

16

12

All Market Equilibrium Quizzes

Determinants Of Demand Quizzes

Econ Review Part 3

This quiz, titled 'Econ Review Part 3', tests understanding of price elasticity concepts in microeconomics, featuring calculations and theory-based questions.

Questions: 18 | Attempts: 834 | Last updated: Mar 21, 2025

Sample Question
If the price of a hotel room increases from $70 to $85 and the number of rooms booked decreases from 200 to 150, what would the price elasticity of demand equal? (absolute value)

0.68

0.91

1.10

1.48

EC 201 Exam 2 P

The EC 201 Exam 2 P focuses on fundamental economic concepts such as supply, demand, and equilibrium. It evaluates understanding through scenarios and graphical data interpretation...

Questions: 34 | Attempts: 784 | Last updated: Mar 21, 2025

Sample Question
The most important concepts in economics, according to the textbook, are supply, demand, and the

Idea of equilibrium.

Opportunity to barter.

Quantity of sales.

The level of prices.

Mastering Price Elasticity of Demand: An Interactive Quiz

Explore the concept of price elasticity of demand in this focused assessment. Understand how price changes influence consumer demand and apply this knowledge to real-world economic...

Questions: 29 | Attempts: 15 | Last updated: Aug 04, 2025

Sample Question
What does the price elasticity of demand coefficient measure?

The quantity demanded at a specific price point

The total revenue generated from sales

The production costs of the goods or services

Buyer responsiveness to price changes.

All Determinants Of Demand Quizzes

Top Trending Demand & Supply Quizzes

Demand & Supply

This quiz covers the basics of demand & supply. All questions come from your Introduction to Demand, Introduction to Supply, and Determining Price Notes. You will have 1 minute to answer each question.

Questions: 10 | Attempts: 18743 | Last updated: Oct 22, 2025

Sample Question
Which of the following is not a component of demand?

Desire

Surplus

Ability

Willingness

Microeconomics Knowledge Test! Practice Quiz! Trivia

If you are an economics student, then you must know that economics is all about supply, demand, and maximizing income, be it in a business or a country. Have you been having a hard time revising for your microeconomics course...

Questions: 10 | Attempts: 36582 | Last updated: Sep 9, 2025

Sample Question
What Microeconomics is about?

Study of Business Environment.

Study of financial position of the economy.

Study of the Economy at Micro Level.

None of the above.

Ch 3 Individual Markets: Demand And Supply

For every demand there must be a supply and if the demand for a product or service exceeds the supply there is a gap in the market. The quiz below is a study test for the Ch. 3 McConnell and Brue 15 ed on individual markets....

Questions: 25 | Attempts: 1723 | Last updated: Mar 22, 2025

Sample Question
A market is any arrangement that brings together the buyers and sellers of a particular good or service.

True

False

Supply And Demand - Practice Quiz

Supply and demand affects the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. This is the major market driver and hence necessary to know about.

Questions: 10 | Attempts: 8228 | Last updated: Mar 21, 2025

Sample Question
A group of people buying and selling goods or services. This is the definition for:

Demand

Equilibrium

Market

Supply

Price Elasticity Of Demand Quiz: Economics Concepts

Explore key concepts of elasticity through this focused quiz. Assess your understanding of how price and income changes impact demand, with scenarios ranging from government policies to student spending habits. Essential for...

Questions: 11 | Attempts: 4227 | Last updated: Mar 22, 2025

Sample Question
When quantity demanded falls more than proportionally in response to a price increase then demand is

Elastic

Inelastic

Unitary

Infinitely inelastic

Popular Demand & Supply Quizzes

Economics Quiz: Test On Microeconomics! Trivia

Economics Quiz: Test on Microeconomics! Trivia

Microeconomics is a division of economics that studies individuals' and firms' behavior in making decisions regarding the distribution of scarce resources and the interactions among these entities and corporations. The...

Questions: 10 | Attempts: 11394 | Last updated: Mar 21, 2025

Sample Question
If the demand curve for good X is downward-sloping, an increase in the price will result in

An increase in the demand for good X.

A decrease in the demand for good X.

No change in the quantity demanded for good X.

A larger quantity demanded for good X.

A smaller quantity demanded for good X.

A Microeconomics Quiz On Supply And Demand

A Microeconomics Quiz on Supply and Demand

In the study of business and microeconomics, you’ll come across the terms “supply and demand” fairly often. It’s the concept by which we judge how much of a particular good or service the market can...

Questions: 35 | Attempts: 5653 | Last updated: Oct 12, 2025

Sample Question
A perfectly competitive market consists of products that are all slightly different from one another

True

False

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