Theory of Demand Quiz (Part 2) Formative Assessment
Authored by Emmanuel Enakhifo
Business
10th Grade
Used 17+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the factors affecting the demand for a good?
Shape of the Product
Price of the Product
Color of the Product
Size of the Product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are price changes illustrated on a demand curve?
Rightward shift of the curve
Leftward shift of the curve
Movement along the curve
Downward shift along the curve
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is an increase in demand illustrated diagrammatically according to non-price changes?
Leftward shift in the Demand Curve
Upward movement along the curve
Rightward shift in the Demand Curve
Downward movement along the curve
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a decrease in price illustrated on a demand curve?
Rightward shift of the curve
Downward movement along the curve
Leftward shift of the curve
Upward movement along the curve
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor does not affect the demand for a good?
Income of consumers
Prices of substitutes and complements
Color of the Product
Tastes/preferences of consumers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price of a product rises. What will happen to the demand for its complement?
It will contract.
It will extend.
It will decrease.
It will increase.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following factors is not a cause of change in demand? Changes in
the size of the population
price of the commodity
income distribution
taste and fashion.
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