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Warm Up!_Market Analysis

Quiz by Jenneper

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5 questions
Show answers
  • Q1
    1. What curve that shows the relationship between the price of milk and the quantity that consumers are willing to purchase at a given price is called?
    a. Consumption Curve
    b. demand curve
    d. Supply curve
    c. demand function
    60 secondss
  • Q2
    2. In what particular aspect that the market equilibrium is present?
    b. Quantity demanded to exceeds quantity supplied.
    c. Quantity supplied exceeds to quantity demanded.
    d. The price of the product will tend to rise.
    a. Quantity demanded is equal to quantity supplied.
    60 secondss
  • Q3
    3. Which of the following choices leads to a shortage of supply in the market?
    d. The equilibrium price is zero.
    b. Quantity demanded exceeds quantity supplied.
    c. Quantity supplied exceeds quantity demanded.
    a. Firms are willing to sell more of the goods at the current price.
    60 secondss
  • Q4
    4. Among the choices, which statements indicates that there is an excess of demand occurs?
    b. The actual price is greater than the equilibrium price.
    d. The actual price is less than the equilibrium price.
    a. Quantity demanded is less than the quantity supplied.
    c. Quantity demanded is greater than the quantity supplied.
    60 secondss
  • Q5
    5. 5. If a competitive company adopt innovative technology, which of the following would likely to happen?
    a. An increase in the quantity supply offered to the market in a higher price.
    b. A rightward shift in the supply curve from S0 to S1 indicates an increase in supply of goods and services.
    d. The supply curve is fixed if there is a change in demand to the market.
    c. A leftward shift in the supply curve indicates a decrease of supply of goods and services.
    60 secondss

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