How often Demand, supply and market equilibrium is asked
5 of 5
papers asked it
avg 22 marks · last Oct 2017
Worth 3–8 marks when it appears as a written question, plus 52 multiple-choice items.
Where it was asked
The questions
May/Jun 2016, Q15multiple choice
Complete the following statement: the demand for a product is said to be effective when ___.
May/Jun 2016, Q16multiple choice
Identify which one of the following factors will cause the demand curve for butter to shift to the right.
May/Jun 2016, Q17multiple choice
In a diagram for the market for product A, price (P) is on the vertical axis and quantity (Q) is on the horizontal axis. A downward-sloping demand curve D1 is shown, along with two upward-sloping supply curves, S1 and S2, with the supply curve moving rightward from S1 to S2. What could most likely explain this movement of the supply curve from S1 to S2?
May/Jun 2016, Q18multiple choice
Using the same market-for-product-A diagram, where the supply curve moves rightward from S1 to S2 against a downward-sloping demand curve D1, what would be the likely effect on price and quantity of this movement?
May/Jun 2016, Q19multiple choice
Still referring to the market for product A (with the supply curve able to move from S1 to S2 against demand curve D1), if this movement of the supply curve took place but the price failed to adjust to the new level of market equilibrium, which of the following would likely be observed in the market for product A?
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