5 Questions
Which of the following is NOT a shifter of demand?
Number of Buyers
Which of the following is NOT a shifter of supply?
Consumer Taste
What is the relationship between price and quantity demanded according to the law of demand?
Indirect relationship
What is the relationship between price and quantity supplied according to the law of supply?
Direct relationship
What happens to the demand curve when there is a change in the price of a product?
The curve remains unchanged
Test your knowledge on supply and demand with this quiz! Learn about demand, the law of demand, and the shifters of demand, including consumer taste and the price of related goods. Discover how these factors can impact the quantity of goods consumers are willing to buy at different prices.
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