Which of the following CANNOT lead to an increase in demand for a good?

An increase in the price of its complements

Which of the following will cause a change in the demand for book fair admission tickets?

Exhibitors reduce the prices of books in the fair.

If the price of the magazine rises from P1 to P2. Which of the following statements is WRONG?

The market quantity transacted of the magazine will increase

When the price of hamburgers increases, the demand for Coke tends to

decrease because they are complements.

Which of the following can best describe the phenomenon?

The price is set below the equilibrium price

Choose the best answer below

His quantities demanded for those products is unchanged.

Sales of second hand goods grow when the economy is bad, although the supply has not changed.

second hand goods are inferior goods.

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Demand and Supply

16 termsStudBud Administration70 plays

A quiz to revise concepts on demand and supply

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Questions 16

Answers

1
The various soft drinks shown in the picture are examples of
inferior goods.
joint demand.
superior goods.
competitive demand.
2
Which of the following CANNOT lead to an increase in demand for a good?
An increase in the price of its complements
An increase in income
A decrease in income
An increase in the price of its substitutes
3
In summer, the demand for mosquito repellents (驅蚊水) and sunscreen products (防曬用品) will likely
increase.
None of the above
decrease.
remain unchanged.
4
If the price of bread decreases,
the price of jam also decreases.
the demand for bread decreases.
the demand for jam increases.
the demand for bread increases.
5
Which of the following will cause a change in the demand for book fair admission tickets?
The admission fee for entry in the morning is lower.
The organiser introduces a discount for buying two tickets’.
Exhibitors reduce the prices of books in the fair.
The admission fee increases by $5 over a year ago.
6
If Elaine’s demand for movies is in line with the law of demand, her demand curve
has a positive slope.
is upward sloping.
will shift rightwards.
is downward sloping
7
Which of the following pairs is in joint demand?
Bus service and taxi service
Nike sneakers (運動鞋) and Reebok sneakers
Blackboard and chalk
Fish and pork
8
If the price of the magazine rises from P₁ to P₂. Which of the following statements is WRONG?
The market quantity supplied of the magazine will increase.
There will be an excess supply of the magazine.
The price of the magazine will face a downward pressure.
The market quantity transacted of the magazine will increase
9
Which of the following economic concepts can explain why a clearance sale is launched
The law of supply
Opportunity cost
The law of demand
Excess demand
10
Which of the following will lead to an increase in the demand for flats in Tseung Kwan O?
C
B
D
A
11
Which of the following can explain the above change?
C
B
D
A
12
The rise in price of desktop computers will lead to a _____ in price of notebook computers
fall
rise
no change
13
When the price of hamburgers increases, the demand for Coke tends to
decrease because they are substitutes.
decrease because they are complements.
increase because they are substitutes.
increase because they are complements.
14
Which of the following can best describe the phenomenon?
The full price has decreased
There is an excess supply of tickets
The price is set below the equilibrium price
There is only money price
15
Choose the best answer below
His quantities demanded for those products is unchanged.
His quantities demanded for those products will increase.
His quantities demanded for those products will decrease.
Uncertain
16
Sales of second hand goods grow when the economy is bad, although the supply has not changed.
The law of demand does not hold in this case.
second hand goods are inferior goods.
The sellers lower the prices of their second hand goods
None of the above

Demand and Supply Flashcards | StudBud