Syllabus of Economics/The supply and demand model - Q & A

About this page

This page is a place for people to enter exam questions and answers for the syllabus module "The supply and demand model" that is part of the Introductory Microeconomics syllabus in Wikiversity's School of Economics. If you would like to help with this learning project, you might like to adding questions and answers (or by helping verify existing questions and answers) to the test bank of questions and answers below for this module. Just add the questions and answers to this page. Later, the plan is to convert these questions and answers on some linked pages using the WikiMedia quiz extension. Other ways you could help are by entering links to relevant Wikipedia entries or other useful learning materials into the Introductory Microeconomics syllabus page or by adding questions and answers for the other modules listed on the Introductory Microeconomics syllabus page.

Questions and Answers

As the supply of a product increases, its retail price should ___. As the demand for a product increases, its retail price should ___.

A. Increase; Increase.

B. Increase; Decrease.

C. Decrease; Increase.

D. Decrease; Decrease.

ANSWER: C