
Economics Practice sheet -2
Quiz by Preeti More
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1. The law of demand states,with increase in price there is
2. The following would cause a change in the quantity demanded for a product?
3. Increase in demand can occur due to:
4. Movement along the demand curve illustrates
5. Increase in demand is shown by demand curve when
6. The demand curve is always
7. Which of the following is a complement product to peanut butter?
8. The Law of Demand is measured from the perspective of
9. Goods for which demand goesdown when income goes up are called
10. Which of the following is not a determinant of a consumer's demandfor a commodity?
11. The law of demand refers to the
12. If the price of a good increases, then
13. If consumer income declines, then the demand for
14. Which of the following will cause a decrease in quantity demanded while leaving demand unchanged?
15. Which of the following will not decrease the demand for a commodity?
16. If a good is normal, then a decrease in price will cause a substitution effect that is
17. Normally a demand curve will have the shape:
18. Law of demand shows relation between:
19. This is an assumption of law of demand:
20. If quantity demanded is completely unresponsive to changes in price, demand is:
21. The following are causes of shift in demand EXCEPT the one:
22. Which one is the assumption of law of demand?
23. Price and demand are positively correlated in case of:
24. Demand is a function of:
25. Which one is the assumption of law of demand?
26. Demand for a commodity refers to:
27. For what type of good does demand fall with a rise in incomelevels of households?
28. In case of Inferior goods like bajra, a fall in its price tends to:
29. Movement along the same demand curve shows:
30. An increase in demand can result from:
31. Supply usually refers to
32. the stock of a commodity is a total amount with the
33. The determinants of supply are
34. Sometimes produces may form of pool and enters into some agreement to restrict the supply of a commodity to earn large profit.
35. The law of supply indicates a__________________ relationship between quantity supplied and price of a commodity.
36. the positive Slope of a supply curve is caused by the rise in the_____________.
37. the supply of wheat it can be increased only in the_____________
38. An increase in supply may result from ___________
39. An increase in the supply curve shows ___________
40. The Price elasticity of supply gives us information about the ____________ in supply of a commodity in response to change in its price.