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