11/21/23,g9:31g ManagerialgEconomicsgandgBusinessgStrategyg8thgEditiongbygBa
PM yegandgPri…
Chapterg
02gMarketgForces:gDemandg
andgSupply
MultiplegChoicegQuestions
1. Ingagcompetitivegmarket,gthegmarketgdemandgisgQdg=g60g-
g6PgandgthegmarketgsupplygisgQsg=g4P.gAg pricegceilinggofg$3gwillgresult
ginga
A. shortagegofg30gunits.
B. shortagegofg15gunits.
C. surplusgofg30gunits.
D.surplusgofg12gunits.
2. Ingagcompetitivegmarket,gthegmarketgdemandgisgQdg=g60g-
g6PgandgthegmarketgsupplygisgQsg=g4P.gTheg fullgeconomicgpricegundergag
pricegceilinggofg$3gis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorizedgforgsalegorgdistribution
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3. Thegbuyergsidegofgthegmarketgisgknowngasgthe:
A. incomegside.
B. demandgside.
C. supplygside.
D.sellergside.
4. Theglawgofgdemandgstatesgthat,gholdinggallgelsegconstant:
A. asgpricegfalls,gdemandgwillgfallgalso.
B. asgpricegrises,gdemandgwillgalsogrise.
C. priceghasgnogeffectgongquantitygdemanded.
D.asgpricegfalls,gquantitygdemandedgrises.
5. WhichgofgthegfollowinggwouldgnotgshiftgthegdemandgforggoodgA?
A. DropgingpricegofggoodgA.
B. DropgingpricegofggoodgB.
C. Consumergincome.
D.ChangegingtheglevelgofgadvertisinggofggoodgA.
6. ChangesgingthegpricegofggoodgAgleadgtogagchangegin:
A. demandgofggoodgA.
B. demandgofggoodgB.
C. thegquantitygdemandedgofggoodgA.
D.thegquantitygdemandedgofggoodgB.
2-2
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorized gforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
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PM yegandgPri…
7. Agchangegingincomegwillgnotgleadgto:
A. agmovementgalonggthegdemandgcurve.
B. agleftwardgshiftgofgthegdemandgcurve.
C. agrightwardgshiftgofgthegdemandgcurve.
D.allgofgthegstatementsgassociatedgwithgthegquestiongaregcorrect.
8. IfggoodgAgisganginferiorggood,gangincreasegingincomegleadsgto:
A. agdecreasegingthegdemandgforggoodgB.
B. agdecreasegingthegdemandgforggoodgA.
C. angincreasegingthegdemandgforggoodgA.
D.nogchangegingthegquantitygdemandedgofggoodgA.
9. Whichgofgthegfollowinggisgprobablygnotgagnormalggood?
A. designergdresses.
B. lobster.
C. macaronigandgcheese.
D. expensiveg automobiles.
10. Angincreasegingthegpricegofgsteakgwillgprobablygleadgto:
A. angincreasegingdemandgforgchicken.
B. angincreasegingdemandgforgsteak.
C. nogchangegingthegdemandgforgsteakgorgchicken.
D.angincreasegingthegsupplygforgchicken.
2-3
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorizedgforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
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PM yegandgPri…
11. Whichgofgthegfollowinggpairsgofggoodsgaregprobablygcomplements?
A. Televisionsgandgrollergskates.
B. Frozengyogurtgandgicegcream.
C. Steakgandgchicken.
D.Hamburgersgandgketchup.
12. IfgAgandgBgaregcomplements,gangincreasegingthegpricegofggoodgAgwould:
A. havegnogeffectgongthegquantitygdemandedgofgB.
B. leadgtogangincreasegingdemandgforgB.
C. leadgtogagdecreasegingdemandgforgB.
D.nonegofgthegstatementsgassociatedgwithgthisgquestiongaregcorrect.
13. Graphically,gagdecreasegingadvertisinggwillgcausegthegdemandgcurvegto:
A. becomegsteeper.
B. shiftgrightward.
C. becomegflatter.
D.shiftgleftward.
14. Persuasiveg advertisingg influencesg demandg by:
A. providingginformationgaboutgthegavailabilitygofgagproduct.
B. offeringgreducedgpricesgforgthegproduct.
C. alteringgthegunderlyinggtastesgofgconsumers.
D.nonegofgthegstatementsgaregcorrect.
2-4
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorized gforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
bsite,gingwholegorgpart.
about:blan 4/151
k
PM yegandgPri…
Chapterg
02gMarketgForces:gDemandg
andgSupply
MultiplegChoicegQuestions
1. Ingagcompetitivegmarket,gthegmarketgdemandgisgQdg=g60g-
g6PgandgthegmarketgsupplygisgQsg=g4P.gAg pricegceilinggofg$3gwillgresult
ginga
A. shortagegofg30gunits.
B. shortagegofg15gunits.
C. surplusgofg30gunits.
D.surplusgofg12gunits.
2. Ingagcompetitivegmarket,gthegmarketgdemandgisgQdg=g60g-
g6PgandgthegmarketgsupplygisgQsg=g4P.gTheg fullgeconomicgpricegundergag
pricegceilinggofg$3gis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorizedgforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
bsite,gingwholegorgpart.
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k
,11/21/23,g9:31g ManagerialgEconomicsgandgBusinessgStrategyg8thgEditiongbygBa
PM yegandgPri…
3. Thegbuyergsidegofgthegmarketgisgknowngasgthe:
A. incomegside.
B. demandgside.
C. supplygside.
D.sellergside.
4. Theglawgofgdemandgstatesgthat,gholdinggallgelsegconstant:
A. asgpricegfalls,gdemandgwillgfallgalso.
B. asgpricegrises,gdemandgwillgalsogrise.
C. priceghasgnogeffectgongquantitygdemanded.
D.asgpricegfalls,gquantitygdemandedgrises.
5. WhichgofgthegfollowinggwouldgnotgshiftgthegdemandgforggoodgA?
A. DropgingpricegofggoodgA.
B. DropgingpricegofggoodgB.
C. Consumergincome.
D.ChangegingtheglevelgofgadvertisinggofggoodgA.
6. ChangesgingthegpricegofggoodgAgleadgtogagchangegin:
A. demandgofggoodgA.
B. demandgofggoodgB.
C. thegquantitygdemandedgofggoodgA.
D.thegquantitygdemandedgofggoodgB.
2-2
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorized gforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
bsite,gingwholegorgpart.
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,11/21/23,g9:31g ManagerialgEconomicsgandgBusinessgStrategyg8thgEditiongbygBa
PM yegandgPri…
7. Agchangegingincomegwillgnotgleadgto:
A. agmovementgalonggthegdemandgcurve.
B. agleftwardgshiftgofgthegdemandgcurve.
C. agrightwardgshiftgofgthegdemandgcurve.
D.allgofgthegstatementsgassociatedgwithgthegquestiongaregcorrect.
8. IfggoodgAgisganginferiorggood,gangincreasegingincomegleadsgto:
A. agdecreasegingthegdemandgforggoodgB.
B. agdecreasegingthegdemandgforggoodgA.
C. angincreasegingthegdemandgforggoodgA.
D.nogchangegingthegquantitygdemandedgofggoodgA.
9. Whichgofgthegfollowinggisgprobablygnotgagnormalggood?
A. designergdresses.
B. lobster.
C. macaronigandgcheese.
D. expensiveg automobiles.
10. Angincreasegingthegpricegofgsteakgwillgprobablygleadgto:
A. angincreasegingdemandgforgchicken.
B. angincreasegingdemandgforgsteak.
C. nogchangegingthegdemandgforgsteakgorgchicken.
D.angincreasegingthegsupplygforgchicken.
2-3
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorizedgforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
bsite,gingwholegorgpart.
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k
, 11/21/23,g9:31g ManagerialgEconomicsgandgBusinessgStrategyg8thgEditiongbygBa
PM yegandgPri…
11. Whichgofgthegfollowinggpairsgofggoodsgaregprobablygcomplements?
A. Televisionsgandgrollergskates.
B. Frozengyogurtgandgicegcream.
C. Steakgandgchicken.
D.Hamburgersgandgketchup.
12. IfgAgandgBgaregcomplements,gangincreasegingthegpricegofggoodgAgwould:
A. havegnogeffectgongthegquantitygdemandedgofgB.
B. leadgtogangincreasegingdemandgforgB.
C. leadgtogagdecreasegingdemandgforgB.
D.nonegofgthegstatementsgassociatedgwithgthisgquestiongaregcorrect.
13. Graphically,gagdecreasegingadvertisinggwillgcausegthegdemandgcurvegto:
A. becomegsteeper.
B. shiftgrightward.
C. becomegflatter.
D.shiftgleftward.
14. Persuasiveg advertisingg influencesg demandg by:
A. providingginformationgaboutgthegavailabilitygofgagproduct.
B. offeringgreducedgpricesgforgthegproduct.
C. alteringgthegunderlyinggtastesgofgconsumers.
D.nonegofgthegstatementsgaregcorrect.
2-4
©g2014gbygMcGraw-
HillgEducation.gThisgisgproprietarygmaterialgsolelygforgauthorizedginstructorguse.gNotgauthorized gforgsalegorgdistribution
g inganygmanner.gThisgdocumentgmaygnotgbegcopied,gscanned,gduplicated,gforwarded,gdistributed,gorgpostedgongagwe
bsite,gingwholegorgpart.
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