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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the law of demand?
💡 Hint: Think about how consumers react to price changes.
Question 2
Easy
Define supply.
💡 Hint: Consider what affects a producer's willingness to sell.
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 describes the law of demand?
- As price increases
- demand increases
- As price decreases
- demand decreases
- As price increases
- demand decreases
💡 Hint: Consider the consumer's behavior when prices rise.
Question 2
True or False: A surplus occurs when demand exceeds supply.
- True
- False
💡 Hint: Think about the balance of supply and demand.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A new technology makes it cheaper to produce smartphones. What are the expected changes in supply and equilibrium price?
💡 Hint: Consider how lower production cost affects sellers.
Question 2
Analyze how a government tax on sugary drinks might affect the demand and supply within that market.
💡 Hint: Imagine how taxes affect pricing and purchasing behavior.
Challenge and get performance evaluation