Supply and Demand
Question 1
MicroeconomicsAPConcept Practice
1 mark
Which of the following best describes the law of demand?
Question 2
MicroeconomicsAPConcept Practice
1 mark
Which of the following is a determinant of demand?
Question 3
MicroeconomicsAPConcept Practice
1 mark
Coffee and tea are examples of what type of goods?
Question 4
MicroeconomicsAPConcept Practice
1 mark
Which of the following is true of an inferior good?
Question 5
MicroeconomicsAPConcept Practice
1 mark
Which of the following is a determinant of supply?
Question 6
MicroeconomicsAPConcept Practice
1 mark
Do taxes increase or decrease supply?
Question 7
MicroeconomicsAPConcept Practice
1 mark
How would an increase in consumer income affect the demand for a normal good?
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Question 8
MicroeconomicsAPConcept Practice
1 mark
If the price of coffee increases, what will likely happen to the demand for tea?
Question 9
MicroeconomicsAPConcept Practice
1 mark
If consumer income decreases, what will likely happen to the demand for instant noodles (an inferior good)?
Question 10
MicroeconomicsAPConcept Practice
1 mark
How would an increase in the price of resources affect the supply of the final product?