A level Demand Quiz 1

16 Questions

Quiz Description

 A level demand quiz is one aspect of A level Economics and it is made up of 15 questions of which each has four options to pick one and just one and only one of these options is correct. The quiz has been set based on the national curriculum for the gce A level.

Now what is demand? Demand is simply the quantity of a good which consumers are ready, willing and able to buy at different prices at a particular point in time. The relationship which exist between price and quantity demanded is known as the demand curve

Do you think you are capable of answering these quizzes correctly? You can now go straight to the quizzes and start testing your knowledge and better prepare for your gce A level exams. 

Good Luck

1:

  Demand for a commodity refers to: 


Correct
  • 1:
    Need for the commodity
  • 2:
    Desire for the commodity
  • 3:
    Quantity demanded of that commodity
  • 4:
    Quantity of the commodity demanded at a certain price during any particular period of time
2:

  In case of an inferior good, the income elasticity of demand is: 


Correct
  • 1:
    Positive
  • 2:
    Zero
  • 3:
    Negative
  • 4:
    Infinite
3:

 For what type of good does demand fall with a rise in income levels of households? 


Correct
  • 1:
    Inferior goods
  • 2:
    Substitutes
  • 3:
    Luxuries
  • 4:
    necessities
4:

 Movement along the same demand curve shows: 


Correct
  • 1:
    Expansion of demand
  • 2:
    Expansion of supply
  • 3:
    Expansion and contraction of demand
  • 4:
    Increase and decrease of demand
5:

 The price of hot – dogs increase by 22% and the quantity demanded falls by 25% this indicates that demand for hot dogs is: 


Correct
  • 1:
    Elastic
  • 2:
    Inelastic
  • 3:
    Unitary elastic
  • 4:
    Perfectly elastic
6:

 What is an Engels curve? 


Correct
  • 1:
    Another name of demand curve
  • 2:
    Curve showing both demand & supply curves
  • 3:
    Curve named after Lord Engels
  • 4:
    All
7:

 Which factor generally keeps the price – elasticity of demand for a good low ?


Correct
  • 1:
    Variety of uses for that good
  • 2:
    Its low price
  • 3:
    Close substitutes for that good
  • 4:
    High proportion of the consumer’s income spent on it
8:

 In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the mid-point of the line would be: 


Correct
  • 1:
    0
  • 2:
    1
  • 3:
    1.5
  • 4:
    2
9:

 An increase in demand can result from: 


Correct
  • 1:
    A decline in the market price
  • 2:
    An increase in income
  • 3:
    A reduction in the price of substitutes
  • 4:
    An increase in the price of complements
10:

 In case of Inferior goods like bajra, a fall in its price tends to: 


Correct
  • 1:
    Make the demand remain constant
  • 2:
    Reduce the demand
  • 3:
    Increase the demand
  • 4:
    Change the demand in an abnormal way
11:

 When demand is perfectly inelastic, an increase in price will result in: 


Correct
  • 1:
    A decrease in total revenue
  • 2:
    An increase in total revenue
  • 3:
    No change in total revenue
  • 4:
    A decrease in quantity demanded
12:

 This is an assumption of law of demand: 


Correct
  • 1:
    Price of the commodity should not change
  • 2:
    Quantity should not change
  • 3:
    Supply should not change
  • 4:
    Income of consumer should not change
13:

 Zubair has a special taste for college canteen is hotdogs. The owner of the canteen doubles the prices of hotdogs. Zubair did not respond to the increase in prices and kept on demanding the same quantity of hotdogs. His demand for hotdogs is: 


Correct
  • 1:
    Perfectly elastic
  • 2:
    Perfectly inelastic
  • 3:
    Elastic
  • 4:
    Less elastic
14:

 Mr. Raees Ahmad bought 50 litres of petrol when his monthly income was Rs. 25,000. Now his monthly income has risen to Rs. 50,000 and he purchases 100 litre of petrol. His income elasticity of demand for petrol is: 


Correct
  • 1:
    1
  • 2:
    100%
  • 3:
    Less than one
  • 4:
    More than one
15:

  Demand is a function of: 


Correct
  • 1:
    Price
  • 2:
    Quantity
  • 3:
    Supply
  • 4:
    None of these
16:

  If price and total revenue move in the same direction, then demand is: 


Correct
  • 1:
    Inelastic
  • 2:
    Elastic
  • 3:
    Unrelated
  • 4:
    Perfectly elastic

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A level Demand Quiz 1
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