Law of Demand Quiz
Test your understanding of the fundamental economic principle of demand and its real-world applications.
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Test your understanding of the fundamental economic principle of demand and its real-world applications.
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8 questions · Quick play · Instant results
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As price increases, quantity demanded increases
As price increases, quantity demanded decreases
Price and quantity demanded have no relationship
As price decreases, quantity demanded decreases
Consumer preferences remain constant
Prices of other goods remain constant
Income levels must increase
Consumer's income remains constant
Increasing supply
The law of demand in action
Market equilibrium
Price elasticity
Luxury goods during price increases
Basic food items
Electronic devices
Household supplies
The curve stays the same
The curve shifts right
The curve shifts left
The curve becomes steeper
Supply effect
Income effect
Equilibrium effect
Price effect
They have no relationship
Consumer surplus increases as prices rise
Consumer surplus represents the area below the demand curve and above price
Consumer surplus only exists in monopolies
Quantity demanded increases
Quantity demanded decreases
Quantity demanded remains unchanged
The relationship is unpredictable
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