Question

1. Which of the following factors will NOT cause a shift in the demand for a good?

a) A change in tastes and preferences

b) A change in the market price of the good

c) A change in consumer incomes

d) A change in the number of consumers

2. Which of the following is likely to cause the demand curve for cars to shift to the left?

a) A rise in the price of cars

b) An increase in the economy's national income

c) An increase in the cost of production, leading to an increase in the price of cars

d) A rise in the price of gasoline

3. The quantity supplied of a good is ________.

a) determined irrespective of the market price

b) always equal to the quantity demanded of the good

c) the amount of the good that sellers are ready to supply at a given price

d) inversely related to the price of the good

Answer 1

Ans.1- (B)

If market price of good changes ,then there is a movement along the demand curve . Demand curve doesn't shift.

Ans.2- (D)

A rise in the price of gasoline is an increase in complement good for car which will shift demand curve to the left with an increase in its price.

Ans.3- (C)

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