Chapter 2 Self-test questions

Demand and supply

Quiz Content

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A fall in the price of steel will cause the supply curve for motor vehicles to ____________.

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An 'administered price' is one that is:

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Which of the following pairs of markets are linked?

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The price of crude oil is considered as flexible because ____________

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If the demand curve for eggs shifts to the right when the price of bacon rises, this would suggest that:

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If fish and chips are complementary goods, a fall in the price of fish will:

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Which of the following is not a reason for shops and supermarkets to mark down the prices of stock?

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Negative excess demand:

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A common feature of the markets for many metals is that:

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The law of demand suggests that ____________

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