Supply and Demand Quiz
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Questions and Answers

What happens to the price of a good when there is an increase in demand?

  • The price decreases
  • The price is unpredictable
  • The price remains the same
  • The price increases (correct)

    • What happens to the quantity supplied when there is a decrease in price?

  • The quantity supplied is unpredictable
  • The quantity supplied increases (correct)
  • The quantity supplied decreases
  • The quantity supplied remains the same

    • Which of the following best describes the relationship between supply and demand?

  • Supply and demand are inversely related
  • Supply and demand have no impact on each other
  • Supply and demand are directly related (correct)
  • Supply and demand are independent of each other

    • What happens to the quantity demanded when there is an increase in price?

    <p>The quantity demanded decreases</p> Signup and view all the answers

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