SHS Economics · Year 2
Demand (Y2) practice questions
Elasticity of demand and more advanced analysis of the factors and behaviours that shape demand for goods and services.
14 questions in this topic: 3 recall, 6 applying skills and concepts, 3 strategic thinking and 2 extended thinking. Every one carries a written explanation.
Sample questions
3 of 14 questions in this topic. Sign up to answer them and see the explanations.
- Question 1Extended thinking
A rise in income increases demand for holidays abroad (a normal good) but reduces demand for cheap instant noodles (an inferior good). What does this contrast illustrate?
- aThe effect of income on demand differs for normal goods versus inferior goods
- bIncome has no effect on demand for any type of good
- cBoth normal and inferior goods always see rising demand as income rises
- dInferior goods only exist in theory and have no real-world examples
- Question 2Skills & concepts
On a graph showing change in quantity demanded, the movement is best represented as
- amovement along the same curve, upward or downward
- ba parallel shift of the whole curve to the right
- ca parallel shift of the whole curve to the left
- dthe complete disappearance of the demand curve
- Question 3Skills & concepts
Parents buy more exercise books now because they expect prices to rise soon. Which factor affecting demand does this illustrate?
- aExpectation of future price change
- bThe current price of the exercise books
- cThe taste and preference of the buyer
- dThe number of buyers in the market
Answer these and 11 more on Demand (Y2)
Free account. Instant marking, a written explanation for every question.
Start practising freeMore Economics Year 2 topics
- Agriculture, Industries and Trade
- Macroeconomic Variables
- Market Equilibrium
- Market Structure
- Money, Financial Institutions and Public Finance
- Production, Cost & Revenue
- Supply (Y2)
- Tools in Economic Analysis
- Utility (Y2)