Supply & demand
16 practice questionsEconomicsStep-by-step solutions
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1
Two goods are substitutes if a rise in the price of one causes demand for the other to:
A.Fall
B.Rise
C.Stay constant
D.Become zero
2
A change in the price of a good itself causes a:
A.Shift of the demand curve
B.Movement along the demand curve
C.Shift of the supply curve only
D.No change at all
3
A 'public good' is characterized by being:
A.Rivalrous and excludable
B.Non-rivalrous and non-excludable
C.Only sold by the government
D.Always free to produce
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