4 Questions
What happens to the price of a good when there is an increase in demand?
The price increases
What happens to the quantity supplied when there is a decrease in price?
The quantity supplied increases
Which of the following best describes the relationship between supply and demand?
Supply and demand are directly related
What happens to the quantity demanded when there is an increase in price?
The quantity demanded decreases
Test your knowledge of supply and demand with this short quiz. Answer questions about the relationship between supply and demand, the effect of increased demand on price, and the impact of decreased price on quantity supplied. Challenge yourself and see how well you understand these fundamental economic concepts.
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