Practice - Demand and Supply
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Practice Questions
Test your understanding with targeted questions
What is demand?
💡 Hint: Think about what influences your purchasing decisions.
What happens to demand when the price decreases?
💡 Hint: Remember the Law of Demand.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What does the Law of Demand state?
💡 Hint: Think about how you react to price changes in your own purchases.
True or False: An increase in supply leads to a higher equilibrium price.
💡 Hint: Consider how supply impacts market prices.
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Challenge Problems
Push your limits with advanced challenges
Consider a market for electric vehicles (EVs). The government increases subsidies for EV purchases. How would this effect demand, supply, and equilibrium price?
💡 Hint: Think about how subsidies affect purchasing power.
Discuss how a sudden drought affects the supply of a commodity such as wheat. How would this impact its price and quantity in the market?
💡 Hint: Consider the immediate effects of natural disasters on production.
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Reference links
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