12th Grade Demand & Supply Quizzes, Questions & Answers

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Law of Demand

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Top Trending Demand & Supply Quizzes

Theory Of Demand And Supply

Explore the fundamentals of market behavior with this quiz on the Theory of Demand and Supply. Cover key concepts such as the law of demand, price elasticity, and market substitutes to enhance your understanding of economic...

Questions: 100 | Attempts: 1275 | Last updated: Feb 6, 2025

Sample Question 1
Demand for a commodity refers to :

Desire for the commodity.

Need for the commodity.

Quantity demanded of that commodity.

Quantity of the commodity demanded at a certain price during any particular period of time.

Sample Question 2
Contraction of demand is the result of :

Decrease in the number of consumers.

Increase in the price of the good concerned.

Increase in the prices of other goods.

Decrease in the income of purchasers

Sample Question 3
All but one of the following are assumed to remain the same while drawing an individual's demand curve for a commodity. Which one is it?

The preference of the individual.

His monetary income.

Price.

Price of related goods.

Eco 102 H Review (Chapter 6: Supply, Demand, And Government Policies)

ECO 102 H REVIEW (Chapter 6: Supply, Demand, and Government Policies)

Choose the BEST answer. Read the explanation if there is.

Questions: 22 | Attempts: 268 | Last updated: Mar 21, 2025

Sample Question
Two roles of economists: as policy advisors, they develop and test their theories to explain the world around them. As policy advisers, they use their theoires to help change the world for the better.

True

False