1) Which of the following factors does NOT shift the demand curve? a) Changes in income b) Changes in tastes and preferences c) Changes in population size d) Changes in the price of the good itself 2) An increase in consumers' income will cause the demand curve for normal goods to: a) Shift to the right b) Shift to the left c) Movement along the demand curve d) Remain unchanged 3) If the price of a substitute good decreases, what happens to the demand for the original good? a) Increases b) Decreases c) Remains unchanged d) Fluctuates unpredictably 4) Which factor does NOT affect the supply curve? a) Changes in the cost of inputs b) Technological advancements c) Natural conditions d) Consumers' tastes and preferences 5) A shift to the left in the demand curve indicates a decrease in demand. a) True b) False 6) Which of the following is a factor that can shift the demand curve to the right? a) Decrease in consumer income b) Decrease in the price of a substitute good c) Increase in population size d) Increase in the price of a complement good 7) If the price of gasoline rises significantly, what is likely to happen to the demand for electric cars? a) The demand curve shifts to the left b) The demand curve shifts to the right c) The quantity demanded decreases along the same demand curve d) There is no effect on the demand for electric cars 8) An increase in the price of a complement good will shift the demand curve to the left. Is this ________ true. a) Sometimes b) Always c) Never 9) Which of the following factors does NOT affect the supply curve? a) Changes in production technology b) Changes in input prices c) Changes in consumer preferences d) Government subsidies 10) When a firm adopts a new technology that reduces production costs, the supply curve will: a) Shift to the right b) Remain unchanged c) Become steeper d) Shift to the left

Demand and Supply

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