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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does a demand curve represent?
💡 Hint: Think about how consumers react to changes in price.
Question 2
Easy
What shape does a supply curve typically have?
💡 Hint: Remember how prices affect production decisions.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does a downward sloping demand curve indicate?
- Prices increase as demand increases
- Prices decrease as demand increases
- Demand does not change with price
💡 Hint: Think about how sales affect what people buy.
Question 2
True or False: A surplus occurs when demand is greater than supply.
- True
- False
💡 Hint: Remember the definitions of surplus and shortage.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Evaluate the effects of a sudden increase in consumer preferences for electric cars on the demand curve. What could be the resulting equilibrium change?
💡 Hint: Think about how preferences impact buying behavior.
Question 2
Analyze how a new tax on sugary drinks might affect the supply curve for these products.
💡 Hint: Consider how costs affect supply decisions.
Challenge and get performance evaluation