1. Microeconomics

Supply And Demand — Quiz

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

Practice Questions

Question 1

Which of the following events would shift the demand curve for a normal good to the right?

Question 2

Which outcome describes the effect of an increase in input prices on the supply curve?

Question 3

If a government sets a price ceiling below the market equilibrium price, which condition will result?

Question 4

When a binding price floor is imposed above the equilibrium price, the immediate market outcome is:

Question 5

How does an improvement in production technology affect the market equilibrium?