11/21/23,k9:31kPM ManagerialkEconomicskandkBusinesskStrategyk8thkEditionkbykBayekandkPri
…
Chapterk02
kMarketkForces:kDemandkandkSuppl
y
MultiplekChoicekQuestions
1. Inkakcompetitivekmarket,kthekmarketkdemandkiskQdk=k60k-
k6PkandkthekmarketksupplykiskQsk=k4P.kAk pricekceilingkofk$3kwillkresultkinka
A. shortagekofk30kunits.
B. shortagekofk15kunits.
C. surpluskofk30kunits.
D. surpluskofk12kunits.
2. Inkakcompetitivekmarket,kthekmarketkdemandkiskQdk=k60k-
k6PkandkthekmarketksupplykiskQsk=k4P.kThek fullkeconomickpricekunderkakpricekceilingkofk$3kis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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…
3. Thekbuyerksidekofkthekmarketkiskknownkaskthe:
A. incomekside.
B. demandkside.
C. supplykside.
D. sellerkside.
4. Theklawkofkdemandkstateskthat,kholdingkallkelsekconstant:
A. askpricekfalls,kdemandkwillkfallkalso.
B. askpricekrises,kdemandkwillkalsokrise.
C. pricekhasknokeffectkonkquantitykdemanded.
D. askpricekfalls,kquantitykdemandedkrises.
5. WhichkofkthekfollowingkwouldknotkshiftkthekdemandkforkgoodkA?
A. DropkinkpricekofkgoodkA.
B. DropkinkpricekofkgoodkB.
C. Consumerk income.
D. ChangekinktheklevelkofkadvertisingkofkgoodkA.
6. ChangeskinkthekpricekofkgoodkAkleadktokakchangekin:
A. demandkofkgoodkA.
B. demandkofkgoodkB.
C. thekquantitykdemandedkofkgoodkA.
D. thekquantitykdemandedkofkgoodkB.
2-2
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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,11/21/23,k9:31kPM ManagerialkEconomicskandkBusinesskStrategyk8thkEditionkbykBayekandkPri
…
7. Akchangekinkincomekwillknotkleadkto:
A. akmovementkalongkthekdemandkcurve.
B. akleftwardkshiftkofkthekdemandkcurve.
C. akrightwardkshiftkofkthekdemandkcurve.
D. allkofkthekstatementskassociatedkwithkthekquestionkarekcorrect.
8. IfkgoodkAkiskankinferiorkgood,kankincreasekinkincomekleadskto:
A. akdecreasekinkthekdemandkforkgoodkB.
B. akdecreasekinkthekdemandkforkgoodkA.
C. ankincreasekinkthekdemandkforkgoodkA.
D. nokchangekinkthekquantitykdemandedkofkgoodkA.
9. Whichkofkthekfollowingkiskprobablyknotkaknormalkgood?
A. designerkdresses.
B. lobster.
C. macaronikandkcheese.
D. expensivek automobiles.
10. Ankincreasekinkthekpricekofksteakkwillkprobablykleadkto:
A. ankincreasekinkdemandkforkchicken.
B. ankincreasekinkdemandkforksteak.
C. nokchangekinkthekdemandkforksteakkorkchicken.
D. ankincreasekinktheksupplykforkchicken.
2-3
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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…
11. Whichkofkthekfollowingkpairskofkgoodskarekprobablykcomplements?
A. Televisionskandkrollerkskates.
B. Frozenkyogurtkandkicekcream.
C. Steakkandkchicken.
D. Hamburgerskandkketchup.
12. IfkAkandkBkarekcomplements,kankincreasekinkthekpricekofkgoodkAkwould:
A. haveknokeffectkonkthekquantitykdemandedkofkB.
B. leadktokankincreasekinkdemandkforkB.
C. leadktokakdecreasekinkdemandkforkB.
D. nonekofkthekstatementskassociatedkwithkthiskquestionkarekcorrect.
13. Graphically,kakdecreasekinkadvertisingkwillkcausekthekdemandkcurvekto:
A. becomeksteeper.
B. shiftkrightward.
C. becomekflatter.
D. shiftkleftward.
14. Persuasivek advertisingk influencesk demandk by:
A. providingkinformationkaboutkthekavailabilitykofkakproduct.
B. offeringkreducedkpriceskforkthekproduct.
C. alteringkthekunderlyingktasteskofkconsumers.
D. nonekofkthekstatementskarekcorrect.
2-4
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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…
Chapterk02
kMarketkForces:kDemandkandkSuppl
y
MultiplekChoicekQuestions
1. Inkakcompetitivekmarket,kthekmarketkdemandkiskQdk=k60k-
k6PkandkthekmarketksupplykiskQsk=k4P.kAk pricekceilingkofk$3kwillkresultkinka
A. shortagekofk30kunits.
B. shortagekofk15kunits.
C. surpluskofk30kunits.
D. surpluskofk12kunits.
2. Inkakcompetitivekmarket,kthekmarketkdemandkiskQdk=k60k-
k6PkandkthekmarketksupplykiskQsk=k4P.kThek fullkeconomickpricekunderkakpricekceilingkofk$3kis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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,11/21/23,k9:31kPM ManagerialkEconomicskandkBusinesskStrategyk8thkEditionkbykBayekandkPri
…
3. Thekbuyerksidekofkthekmarketkiskknownkaskthe:
A. incomekside.
B. demandkside.
C. supplykside.
D. sellerkside.
4. Theklawkofkdemandkstateskthat,kholdingkallkelsekconstant:
A. askpricekfalls,kdemandkwillkfallkalso.
B. askpricekrises,kdemandkwillkalsokrise.
C. pricekhasknokeffectkonkquantitykdemanded.
D. askpricekfalls,kquantitykdemandedkrises.
5. WhichkofkthekfollowingkwouldknotkshiftkthekdemandkforkgoodkA?
A. DropkinkpricekofkgoodkA.
B. DropkinkpricekofkgoodkB.
C. Consumerk income.
D. ChangekinktheklevelkofkadvertisingkofkgoodkA.
6. ChangeskinkthekpricekofkgoodkAkleadktokakchangekin:
A. demandkofkgoodkA.
B. demandkofkgoodkB.
C. thekquantitykdemandedkofkgoodkA.
D. thekquantitykdemandedkofkgoodkB.
2-2
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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,11/21/23,k9:31kPM ManagerialkEconomicskandkBusinesskStrategyk8thkEditionkbykBayekandkPri
…
7. Akchangekinkincomekwillknotkleadkto:
A. akmovementkalongkthekdemandkcurve.
B. akleftwardkshiftkofkthekdemandkcurve.
C. akrightwardkshiftkofkthekdemandkcurve.
D. allkofkthekstatementskassociatedkwithkthekquestionkarekcorrect.
8. IfkgoodkAkiskankinferiorkgood,kankincreasekinkincomekleadskto:
A. akdecreasekinkthekdemandkforkgoodkB.
B. akdecreasekinkthekdemandkforkgoodkA.
C. ankincreasekinkthekdemandkforkgoodkA.
D. nokchangekinkthekquantitykdemandedkofkgoodkA.
9. Whichkofkthekfollowingkiskprobablyknotkaknormalkgood?
A. designerkdresses.
B. lobster.
C. macaronikandkcheese.
D. expensivek automobiles.
10. Ankincreasekinkthekpricekofksteakkwillkprobablykleadkto:
A. ankincreasekinkdemandkforkchicken.
B. ankincreasekinkdemandkforksteak.
C. nokchangekinkthekdemandkforksteakkorkchicken.
D. ankincreasekinktheksupplykforkchicken.
2-3
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
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, 11/21/23,k9:31kPM ManagerialkEconomicskandkBusinesskStrategyk8thkEditionkbykBayekandkPri
…
11. Whichkofkthekfollowingkpairskofkgoodskarekprobablykcomplements?
A. Televisionskandkrollerkskates.
B. Frozenkyogurtkandkicekcream.
C. Steakkandkchicken.
D. Hamburgerskandkketchup.
12. IfkAkandkBkarekcomplements,kankincreasekinkthekpricekofkgoodkAkwould:
A. haveknokeffectkonkthekquantitykdemandedkofkB.
B. leadktokankincreasekinkdemandkforkB.
C. leadktokakdecreasekinkdemandkforkB.
D. nonekofkthekstatementskassociatedkwithkthiskquestionkarekcorrect.
13. Graphically,kakdecreasekinkadvertisingkwillkcausekthekdemandkcurvekto:
A. becomeksteeper.
B. shiftkrightward.
C. becomekflatter.
D. shiftkleftward.
14. Persuasivek advertisingk influencesk demandk by:
A. providingkinformationkaboutkthekavailabilitykofkakproduct.
B. offeringkreducedkpriceskforkthekproduct.
C. alteringkthekunderlyingktasteskofkconsumers.
D. nonekofkthekstatementskarekcorrect.
2-4
©k2014kbykMcGraw-
Hill kEducation. kThiskis kproprietarykmaterialksolelykforkauthorized kinstructorkuse.kNotkauthorizedkforksale korkdistributionk inkany
kmanner. kThiskdocument kmayknotkbekcopied, kscanned, kduplicated, kforwarded, kdistributed, kor kpostedkonkakwebsite, kinkwhole kor
kpart.
about:blank 4/151
