6. Factor Markets

Changes In Factor Demand And Factor Supply — Quiz

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

Read the lesson first

Practice Questions

Question 1

What happens to the demand for labor when the demand for the final good rises?

Question 2

Which change would most likely increase the demand for skilled electricians?

Question 3

What is the main effect of an increase in worker productivity on the demand for labor?

Question 4

Which event would most likely increase the supply of labor in a market?

Question 5

What is the likely effect of an increase in the wage offered in one occupation?