1/29/2021 Q1 WRITTEN WORK 3: Attempt review

Home / My courses / BAED-ECON2122-2022S / Week 3: Basic Principles of Demand and Supply / Q1 WRITTEN WORK 3

Started on Friday, 29 January 2021, 10:12 PM

State Finished
Completed on Friday, 29 January 2021, 10:14 PM
Time taken 1 min 56 secs
Marks 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1
Correct

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When graphing supply and demand, price is always on which axis

Select one:
a. Horizontal

b. Vertical 

Question 2
Correct

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The supply curve always slopes in what direction?

Select one:
a. Down

b. Up 

Question 3
Correct

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Which of the following is not a component of demand?

Select one:
a. Willingness

b. Desire

c. Ability

d. Surplus 

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1/29/2021 Q1 WRITTEN WORK 3: Attempt review

Question 4
Correct

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Which of the following is not a component of Demand?

Select one:
a. Surplus 

b. Ability

c. Willingness

d. Desire

Question 5
Correct

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The Law of Supply states:

Select one:
a. as price decreases, quantity demanded decreases

b. as price increases, quantity demanded decreases

c. as price increases, supply increases 

d. as prices decrease, supply increases

◄ Week 003 Basic Principles of Demand and Supply

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Week 004 Demand and Supply in Relation to the Prices of Basic Commodities ►

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