2. Basic Economic Concepts

Supply And Demand — Quiz

Test your understanding of supply and demand with 5 practice questions.

Read the lesson first

Practice Questions

Question 1

Which statement best describes demand in economics?

Question 2

What usually happens to the quantity demanded of a good when its price falls, assuming all else is equal?

Question 3

Which factor would cause demand for a product to increase?

Question 4

What is the relationship between supply and quantity supplied?

Question 5

What is a market equilibrium?