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IBDP1 -DEMAND SUPPLY ECONOMICS QUIZ MANIA! Flashcards | StudBud

Explore/IBDP1 -DEMAND SUPPLY ECONOMICS QUIZ MANIA!

market equilibrium is achieved where?

an increase in advertisement will shift demand to

IBDP1 -DEMAND SUPPLY ECONOMICS QUIZ MANIA!

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Questions 12

Answers

1
an increase in advertisement will shift demand to
None of the above
left
No change
Right
2
market equilibrium is achieved where?
demand equals supply.
demand shifts to the left
supply shifts to the right
damand shifts to the right
3
at price 4 dollars there will be?
equibrium
shortage of sugar in the market
excess demand
excess supply
4
what is the law of demand
at high price supply will be high
at higher prices demand will fall
the higher the income the lower the demand
at lower prices demand will fall
5
from the table what is the equilibrium quantity
100
60
40
80
6
which of the following is true during off peak period for airlines
demand is likely to be in elastic
demand is likly to be elastic
there will be excess supply for airtickets
there will be excess demand for air tickets
7
what cannot cause the demand curve to shift to the right as shown?
increase in taxes
fall in price
a fall in income
increase in advertisement
8
From the table equilibrium price will be?
1.0 dollar
1.5 dollars
4 dollars
2 ollars
9
which of the following is true about the demand curve?
its is elastic
it is perfectly inelastic
it is perfectly elastic
it is inelastic demand curve
10
Which of the following are substitutes
shoe and polish
Apple Iphone and Samsung
Car and petrol
tea and milk
11
calculate excess demand at price 0.5 dollars
140
20
120
100
12
the price of sugar increased by 20%, in response, the demand fell by 10%. calculate PED.
2.5
0.5
2
10