Demand and Supply MCQ Questions and Answers Quiz

61. Demands differ from wants in that

  1. wants require a plan to acquire a good but demands require no such plan.
  2. demands are unlimited, whereas wants are limited by income.
  3. wants imply a decision about which demands to satisfy, while demands involve no specific plan to acquire the good.
  4. demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good.

62. Scarcity guarantees that

  1. wants will exceed demands.
  2. demands will be equal to wants.
  3. demands will exceed wants.
  4. most demands will be satisfied.

MCQ Multiple Choice Questions and Answers on Demand and Supply

Demand and Supply Trivia Questions and Answers PDF

Demand and Supply Question and Answer

Spreading Knowledge Across the World

USA - United States of America  Canada  United Kingdom  Australia  New Zealand  South America  Brazil  Portugal  Netherland  South Africa  Ethiopia  Zambia  Singapore  Malaysia  India  China  UAE - Saudi Arabia  Qatar  Oman  Kuwait  Bahrain  Dubai  Israil  England  Scotland  Norway  Ireland  Denmark  France  Spain  Poland  and many more....