Demand, Supply and Price Quiz

Check your understanding of Demand, Supply and Price.

Topic: Demand, Supply and Price

Pass mark: 50% · 3 questions

1. The law of demand says that as price rises, quantity demanded? A. Rises B. Falls C. Stays the same D. Doubles

2. The law of supply says that as price rises, quantity supplied? A. Rises B. Falls C. Stays the same D. Halves

3. Equilibrium occurs when? A. Demand exceeds supply B. Supply exceeds demand C. Demand equals supply D. Price is zero