Changes in Demand and Supply - Economics

Question 1

A line graph which shows how much of a good sellers are willing to supply at different prices

Accepted Answer

Supply Curve

Question 2

Which of the following is not a factor to shift the demand curve?

Accepted Answer

Global factors

Question 3

Goods bought as alternative to another but perform the same function are

Accepted Answer

Subsititute Goods

Question 4

Which is a correct factor affecting the supply curve

Accepted Answer

Wages, Cost of production

Question 5

Price x Quantity =

Accepted Answer

Revenue, Total Revenue

Question 6

What would shift the demand curve to the right

Accepted Answer

Increase in population, Increase in price of Substitute Goods, Positive advertising

Question 7

There is a hurricane in central Italy, what happens to the price of tomatoes?

Accepted Answer

Price will increase

Question 8

Goods bought as alternative to another but perform the same function are

Accepted Answer

Subsititute Goods

Question 9

Where supply is greater than demand and there are unsold goods in the market. It is called..

Accepted Answer

Excess Supply

Question 10

Which is not a factor affecting the supply of goods?

Accepted Answer

Advertising

Question 11

Which factor does not affect a shift in the supply curve

Accepted Answer

Price, Taste & fashion

Question 12

What would shift the demand curve to the left

Accepted Answer

Increase in price of Complementary Goods

Questions 12