31. A decrease in quantity demanded caused by an increase in price is represented by a
32. People come to expect that the price of a gallon of gasoline will rise next week. As a result,
33. A drop in the price of a compact disc shifts the demand curve for prerecorded tapes leftward. From that you know compact discs and prerecorded tapes are
34. People buy more of good 1 when the price of good 2 rises. These goods are
35. By definition, an inferior good is a
36. A substitute is a good
37. Which of the following influences peoples buying plans and varies moving along a demand curve?
38. Which of the following is NOT held constant while moving along a supply curve?
39. The opportunity cost of good A in terms of good B is equal to the
40. A decrease in the quantity supplied is represented by a
MCQ Multiple Choice Questions and Answers on Demand and Supply
Demand and Supply Question and Answer