1) What does the law of demand state? a) As price decreases, quantity demanded decreases b) As price increases, quantity demanded will not change c) As price decreases, quantity demanded increases d) As price increases, quantity demanded increases 2) Which of the following is NOT a determinant of demand? a) Price of the Product b) Income of consumers c) Price of Substitute goods d) Government Regulations 3) What is the demand curve? a) A curve showing the relationship between quantity demanded and quantity supplied b) A curve showing the relationship between price and quantity demanded c) A curve showing the relationship between price and quantity supplied  d) A curve showing the relationship between income and demand  4) Movement along the demand curve occurs due to changes in a) Price b) Income c) Consumer Preference d) Technology 5) Which of the following factors would not cause a shift in the demand curve? a) Change in consumer tastes and preference b) Change in the price of a complementary good c) Change in the price of the product d) Change in the income of consumers  6) If the price of coffee increases and the demand for tea increases, what is the relationship between coffee and tea? a) Complementary Goods b) Substitute Goods c) Independent Goods d) Inferior Goods  7) Which of the following would cause an increase in demand for smartphones?  a) Decrease in the price of smartphones b) Increase in the price of phone cases c) Increase in the income of consumers  d) Decreases in the price of tablets  8) What does the demand schedule show? a) The relationship between price and qty demanded b) The relationship between price and qty supplied  c) The relationship between income and demand d) The relationship between price and consumer preference 9) What happens to the demand for a product if its price decreases? a) Increases b) Decreases c) Remains unchanged  d) Depends on the income of consumers 10) If the price of movie tickets increases and the demand for popcorn decreases, what type of goods are popcorn and movie tickets? a) Complementary Goods b) Substitute Goods c) Independent Goods d) Inferior Goods 11) If the price of petrol decreases and the demand for cars increases, what is the relationship between petrol and cars? a) Complementary Goods b) Substitute Goods c) Independent Goods d) Inferior Goods 12) If the demand for laptops decreases when the price of tablets decreases, what is the relationship between laptops and tablets? a) Complementary Goods  b) Substitute Goods  c) Independent Goods  d) Inferior Goods  13) What does a price increase result in along a demand curve? a) Expansion of Demand b) Contraction of Demand  c) Extension of Demand  d) Reduction of Demand 14) If the price of butter increases and the demand for margarine increases, what is the relationship between butter and margarine? a) Complementary Goods b) Substitute Goods c) Independent Goods d) Inferior Goods  15) What is the effect on the demand curve when there is an increase in consumer income? a) Shift to the left b) Shift to the right c) No shift d) Change in slope 16) What does a downward-sloping demand curve indicate?  a) Positive relationship between price and quantity demanded b) Negative relationship between price and quantity demanded c) No relationship between price and quantity demanded d) Constant relationship between price and quantity demanded 17) What is a market? a) A physical location where goods are sold b) A place where buyers and sellers interact to exchange goods and services c) A government-regulated trading platform d) An online marketplace only  18) If the demand for umbrellas decreases when the price of raincoats decreases, what is the relationship between umbrellas and raincoats? a) Complementary Goods b) Substitute Goods c) Independent Goods d) Inferiors Goods 

Demand Quiz

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