Demand and Supply MCQ Questions and Answers for Practice

Master the fundamentals of economics with our Demand and Supply MCQs. These multiple-choice questions are designed to help students and exam aspirants reinforce their understanding and prepare effectively for various assessments.

About Demand and Supply MCQ Questions

Demand and Supply MCQs cover essential economic concepts such as the laws of demand and supply, market equilibrium, price determination, and elasticity. These questions are crafted to test your knowledge and application skills in real-world scenarios.

Why Practice Demand and Supply Objective Questions?

Practicing these objective questions offers numerous benefits. They help you prepare for school and college exams, competitive exams, and job interviews. Regular practice enhances your understanding, improves your problem-solving skills, and boosts your confidence in economic principles.

Who Should Use These MCQs?

  • Students preparing for school or college exams
  • Competitive exam aspirants
  • Candidates preparing for interviews

Demand and Supply MCQ Questions for Practice

1. A change in which of the following alters buying plans for cars but does NOT shift the demandcurve for cars?

2. A fall in the price of a good causes producers to reduce the quantity of the good they are willing to produce. This fact illustrates

3. Which of the following would NOT shift the demand curve for turkey?

4. Which of the following is consistent with the law of demand?

5. The law of demand states that

6. Blank tapes and prerecorded tapes are substitutes in production. An increase in the price of a blank tape will cause

7. The law of demand implies that if nothing else changes, there is

8. Which of the following will shift the supply curve for good X leftward?

9. The quantity supplied of a good or service is the quantity that a producer

10. Which of the following does NOT shift the supply curve?

11. Which of the following causes an increase in the quantity supplied of good X but NOT in the supply of good X?

12. Because of increasing marginal cost, most supply curves

13. The law of demand implies that, other things remaining the same,

14. Which of the following pairs of goods are most likely substitutes?

15. The demand curve for a normal good shifts leftward if income ________ or the expected future price ________

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