Questions with correct answers 100%
2026
A group of people buying and selling goods and services. This is the definition for:
a. demand
b. equilibrium
c. market
d. supply - Correct Answers c. market
The desire to own a product and the ability/ willingness to pay for it is known as:
a. supply
b. elasticity
c. demand
d. market - Correct Answers c. demand
With regard to demand, a change in price of a productive/service results in movement along the
curve.
True or False - Correct Answers true
In the Law of Supply, an increase in price results in:
a. decrease of quantity supplied
b. increase of quantity supplied. - Correct Answers b. increase of quantity supplied
The supply curve shows the relationship of quantity and price demanded.
True or False - Correct Answers false; its actually the demand curve