The Theory of Demand and Supply Quiz
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Questions and Answers

What is the theory that explains the relationship between demand and supply?

  • Theory of gravity
  • Theory of evolution
  • Theory of relativity
  • Theory of demand and supply (correct)

    • What happens when demand exceeds supply?

  • Prices become unpredictable
  • Prices decrease
  • Prices increase (correct)
  • Prices remain the same

    • What does the theory of demand and supply describe?

  • The relationship between price and quantity supplied
  • The relationship between price and production costs
  • The relationship between price and quantity demanded (correct)
  • The relationship between price and consumer preferences

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