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Grade:
09
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Date:
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Due
on:
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Class:
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Index:
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Name:
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Answer the following 30 Questions.
1. What is meant by the term ‘equilibrium’?
2. Define equilibrium price?
3. How is equilibrium price determined?
4. When
does movement of the demand curve occur?
5. Illustrate
an increase in demand?
6. Illustrate
a fall in demand?
7. List
the factors affecting demand curve?
8. How
does consumer income affect demand?
9. What
are normal goods? Give an example.
10. What
are inferior goods? Give an example.
11. Define
substitutes? Give an example.
12. Define
complements? Give an example?
13. How
does availability of credit affects demand?
14. When
does movement along the demand curve occur?
15. Illustrate
an extension in demand?
16. Illustrate
a contraction in demand?
17. Use
a demand and supply diagram to illustrate the effect on market price due to an
increase in demand?
18. Use
a demand and supply diagram to illustrate the effect on market price due to a
fall in demand?
19. When
does a movement of supply curve occur?
20. Illustrate
an increase in supply?
21. Illustrate
a fall in supply?
22. Identify
the causes of shifts in supply curve?
23. How
does price of factors of production affect supply?
24. How
does a production subsidy affect supply?
25. When
does movement along a supply curve occur?
26. Illustrate
an extension in supply?
27. Illustrate
a contraction in supply?
28. How
does an increase in supply affect market price?
29. How
does a fall in supply affect market price?
30. Draw
a demand and supply diagram to illustrate a fall in supply?
