#1
What is the relationship between price and quantity demanded according to the law of demand?
1 answered
#2
Which of the following is an example of a complementary good?
2 answered
#3
What does a shift to the left of the supply curve indicate?
3 answered
#4
Which of the following is an example of a normal good?
2 answered
#5
What happens to the equilibrium price and quantity when there is an increase in demand and no change in supply?
1 answered
#6
Which of the following would cause a rightward shift in the supply curve?
2 answered
#7
Which of the following is likely to cause a shift in the demand curve for smartphones?
1 answered
#8
If the price of coffee increases, what happens to the equilibrium price and quantity of tea, a substitute for coffee?
2 answered
#9
Which of the following factors does not influence the elasticity of demand for a good?
2 answered
#10
What happens to the equilibrium price and quantity when both supply and demand decrease?
2 answered
#11
What happens to the equilibrium price and quantity when both demand and supply decrease by the same amount?
2 answered