AMU ECON 201 Week 2 Quiz Questions and Answers and Scoring
Insights | with Complete Solutions 100% Correct | 2025-2026
Update
Question 1 points
A shift of a demand curve to the right, all other things unchanged, will:
increase equilibrium price and quantity.
decrease equilibrium price and quantity. decrease
quantity and increase price.
increase quantity and decrease price.
Question 2 points
If the current price is above the equilibrium price, we would expect:
quantity demanded to exceed quantity supplied. upward
pressure on price.
quantity supplied to exceed quantity demanded.
no change in the market price.
Question 3 points
Demand is defined as:
an amount that is purchased at a specific price, given supply. a
schedule that establishes the price of a good.
a schedule that shows how much will be purchased at various prices during a particular period, all other
things unchanged.
, the amount that will be bought at a specific price.
Question 4 points
Question 4 points
The primary difference between a change in demand and a change in the quantity demanded is:
a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in
the demand curve.
a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift
in the demand curve.
both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different
directions.
both a change in quantity demanded and a change in demand are movements along the demand curve, only
in different directions.
Question 5 points
A negative relationship between the quantity demanded and price is called the law of ______.
demand
diminishing marginal returns
market clearing supply
Question 6 points
The relationship between the quantity of a good or service sellers are willing and able to offer for sale and the
independent variables that determine quantity is:
supply.
Insights | with Complete Solutions 100% Correct | 2025-2026
Update
Question 1 points
A shift of a demand curve to the right, all other things unchanged, will:
increase equilibrium price and quantity.
decrease equilibrium price and quantity. decrease
quantity and increase price.
increase quantity and decrease price.
Question 2 points
If the current price is above the equilibrium price, we would expect:
quantity demanded to exceed quantity supplied. upward
pressure on price.
quantity supplied to exceed quantity demanded.
no change in the market price.
Question 3 points
Demand is defined as:
an amount that is purchased at a specific price, given supply. a
schedule that establishes the price of a good.
a schedule that shows how much will be purchased at various prices during a particular period, all other
things unchanged.
, the amount that will be bought at a specific price.
Question 4 points
Question 4 points
The primary difference between a change in demand and a change in the quantity demanded is:
a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in
the demand curve.
a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift
in the demand curve.
both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different
directions.
both a change in quantity demanded and a change in demand are movements along the demand curve, only
in different directions.
Question 5 points
A negative relationship between the quantity demanded and price is called the law of ______.
demand
diminishing marginal returns
market clearing supply
Question 6 points
The relationship between the quantity of a good or service sellers are willing and able to offer for sale and the
independent variables that determine quantity is:
supply.
