Elementary Theory Of Demand — Practice Quiz
ICSE · Class 12 · Economics
Try a 4-question quiz on Elementary Theory Of Demand for ICSE Class 12 Economics: tap an answer to check it and see why.
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Quick Quiz: Elementary Theory Of Demand
0/4Tap an answer to check it instantly. No sign-up needed for these 4.
What is the best definition of demand in economics?
Which statement best describes effective demand?
Why is demand called a flow concept?
What is the main difference between demand and quantity demanded?
Sample Questions
Which of the following is an example of substitute goods?
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Tea and coffee
Substitute goods can be used in place of one another, and tea and coffee are a standard example.
Which pair is a complementary good pair?
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Car and petrol
Complementary goods are jointly demanded to satisfy a want, and car and petrol are a standard example.
How does a rise in the price of tea affect the demand for coffee?
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It raises the demand for coffee
Tea and coffee are substitutes, so a rise in tea price increases demand for coffee.
How does a rise in the price of car affect the demand for petrol?
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It reduces the demand for petrol
Car and petrol are complements, so a rise in car price reduces demand for petrol.
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