micro drills10 questions
Demand Basics — Practice Set 1
Start with the foundation of microeconomics: what quantity demanded means, why demand slopes down, and what moves you along the curve versus shifting it.
Q1.
The law of demand states that, ceteris paribus:
Multiple choice · Foundations
Q2.
A change in the price of a good causes:
Multiple choice · Foundations
Q3.
Which of the following would shift the demand curve for coffee to the right?
Multiple choice · Intermediate
Q4.
If the price of tea rises, the demand curve for coffee (a substitute) will:
Multiple choice · Intermediate
Q5.
An increase in the price of printers would most likely cause the demand for ink cartridges to:
Multiple choice · Intermediate
Q6.
A normal good is defined as a good for which:
Multiple choice · Foundations
Q7.
Expectations of a future price increase for gasoline will today cause:
Multiple choice · Intermediate
Q8.
Which pair represents substitutes?
Multiple choice · Foundations
Q9.
A decrease in the number of buyers in a market will:
Multiple choice · Foundations
Q10.
The term 'ceteris paribus' in demand analysis means:
Multiple choice · Foundations