Which of the following would cause a rightward shift of the demand curve for sausages?

An wage increase in the public sector

What would be the effect of an increase in productivity of workers in the baked bean industry?

An increase in the supply of baked beans

Equilibrium price is the price at which

The amount consumers demand = the amount sellers supply

An increase in demand is represented by

A shift to the right of the demand curve

What would cause an increase in the supply of milk?

The introduction of a subsidy to dairy farmers

What does a market supply curve show?

The relationship between total quantity supplied and price

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Demand and Supply

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#Economics, to test knowledge of the conditions of #demand and #supply

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Questions 10

Answers

1
Which of the following would cause a rightward shift of the demand curve for sausages?
A health scare about pork consumption
An wage increase in the public sector
A decrease in the price of minced beef
A decrease in indirect tax
2
What would be the effect of an increase in productivity of workers in the baked bean industry?
An extension to the supply of baked beans
A leftward shift of the demand curve for beans
An increase in the supply of baked beans
An increase in the popularity of beans
3
The price of a product rises. What will happen to the demand for its complement?
It will contract
It will decrease
It will increase
It will extend
4
Equilibrium price is the price at which
Supply exceeds demand
Everything that is produced is sold
The amount consumers demand = the amount sellers supply
The number of buyers = the number of sellers
5
What would cause a rightward shift in the demand curve for coffee?
A successful advertising campaign for tea
A rise in the price of coffee
A rise in the price of tea
A report suggesting that coffee can cause headaches
6
What will adverse weather conditions in the UK do to the supply of English wine?
It will contract
It will extend
It will increase
It will decrease
7
An increase in demand is represented by
A shift to the right of the demand curve
A movement up the demand curve
A shift to the left of the demand curce
A movement down the demand curve
8
What would cause an increase in the supply of milk?
An increase in wages paid to farmworkers
The outbreak of a disease affecting cows
The introduction of a subsidy to dairy farmers
An increase in the price of cattle feed
9
What would have happened to the demand for Saints tickets if they had won the EFL Cup?
It would have decreased
It would have extended
It would have increased
It would have contracted
10
What does a market supply curve show?
The share of output produced by each firm in an industry
The relationship between total quantity supplied and price
Relationship between quantity supplied and demand
Proportion of total output sold

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