Economics Grade 9 questions

1. What type of science is economics?

2. What does economics focus on?
3. What is the law of demand?
4. What is law of supply?
5. Coke and Pepsi are what goods?
6. Give an example of complementary goods.
7. What is difference between shift and movement of demand curve
8. factor that causes shift in demand curve
9. One factor that causes shift in supply curve
10. What is equilibrium?

1.
A : Economics is generally regarded as a nuero science
B : Economics is generally regarded as an environmental science
C : Economics is generally regarded as a social science -
D: Economics is generally regarded as a business science

2.
A : Economics is a social science concerned with the production, distribution, and
consumption of goods and services. It studies how individuals, businesses, governments,
and nations make choices about how to allocate resources. Economics focuses on the
actions of human beings, based on assumptions that humans act with rational behaviour
seeking the most optimal level of benefit or utility. -
B :Economics focuses on the earth and its functioning
C :Economics focuses on the Education of people
D : Economics is a social science that focuses on the study of the working of businesses

3
A: Law of demand is as the price of a product increases the demand for the same product
decreases. Ceteris Paribus -
B: Law of demand is as the price of a product increases the demand for the same product
increases. Ceteris Paribus
C: Law of demand is as the price of a product decreases the demand for the same product
decreases. Ceteris Paribus
D: Law of demand is as the price of a product decreases the demand for the same product
decreases. Ceteris Paribus
4.
A: Law of supply states that with an increase in price of a particular good there is an
increase in quantity supplied of that particular good . Ceteris Paribus. -
B: Law of supply states that with an decrease in price of a particular good there is an
increase in quantity supplied of that particular good . Ceteris Paribus.
C: Law of supply states that with an increase in price of a particular good there is an
decrease in quantity supplied of that particular good . Ceteris Paribus.
D: Law of supply states that with an decrease in price of a particular good there is a
decrease in quantity supplied of that particular good .

5.
A: Substitutes -
B: Cheap
C: Compliments
D: Inferior

6.
A: Car and bike
B: Car and Petrol -
C: Diesel Car and Petrol
D: Book and Paper

7.
A: Demand curve is a curve that shows demand of money. Shift is caused with increase
in money while movement is with decrease in money.
B: Shift is when curve moves right and movement is when curve moves left
C: Shift is when curve moves left and movement is when curve moves right
D: Demand Curve is a graph, indicating the quantity demanded by the consumer at
different prices. The movement in demand curve occurs due to the change in the price of
the commodity whereas the shift in demand curve is because of the change in one or
more factors other than the price.

8.
A: Time of the day
B: Price of good
C: Price of substitutes and complement goods –
D: Size of good

9
A: Temperature
B: Humidity
C: Wages of labour force
D: Changes in technology, taxes, subsidies. –

10.
A: Where molecules stop moving.
B: Time at which shipped out to satisfy demand.
C: Point on the graph where supply and demand curve meet. At equilibrium there is
shortage or surplus of goods.
D: End of month.