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Economics & Commerce — Grade 11 Quiz Questions
A sample of the 10 questions below — instant scoring and an explanation for every answer. No sign-in required to play.
Question 1
According to the law of supply, what typically happens to quantity supplied when a product's price rises, all else equal?
AIt decreases
BIt increases
CIt stays the same
DIt becomes zero
Question 2
According to the law of demand, what typically happens to quantity demanded when a product's price rises, all else equal?
AIt decreases
BIt increases
CIt stays the same
DIt becomes infinite
Question 3
What happens to the demand curve for a 'normal good' when consumer income rises?
AIt shifts left
BIt stays the same
CIt shifts right
DIt becomes vertical
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