1. Microeconomics

Supply And Demand — Quiz

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

Practice Questions

Question 1

When demand decreases (shifts left) and supply remains unchanged, what happens to equilibrium price and quantity in a competitive market?

Question 2

If the price of a complementary good increases, what happens to the demand curve for the related good?

Question 3

Which factor causes a movement along a given supply curve rather than a shift of the supply curve itself?

Question 4

Which of the following events will shift the supply curve for a product to the left, ceteris paribus?

Question 5

Given the linear demand function $Q_d=120-4P$ and supply function $Q_s=20+P$, what are the equilibrium price and quantity?