Quiz: Drawing and Interpreting Demand and Supply Diagrams
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Building on what you've learned, let's test your knowledge of drawing and interpreting demand and supply diagrams! This will help reinforce your understanding of market dynamics.
What does the demand curve show?
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Which of the following could cause a rightward shift in the demand curve? (Select all that apply)
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A movement along the demand curve is caused by a change in the {{blank0}} of the product.
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Match the items on the left with their correct pairs on the right
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If the quantity demanded at £10 is 50 units and the quantity supplied is 70 units, what is the surplus in the market?
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What does a leftward shift of the supply curve indicate?
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Match the items on the left with their correct pairs on the right
Which of these factors could cause a leftward shift in the supply curve? (Select all that apply)
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The intersection of the demand and supply curve determines the {{blank0}} of the product in the market.
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If supply increases and demand remains constant, what will happen to the equilibrium price?
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