Quiz: Markets
There are 6 questions worth 1 point each.
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Question 1 of 6
1. Question
Consider how the following shocks would impact the market for medium sized family homes
Sort elements
- Positive supply shock
- Negative demand shock
- Negative supply shock
- Positive demand shock
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A reduction in planning restrictions
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A reduction in inward high skilled migration
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An fall in divorce rates
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A booming economy
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Question 2 of 6
2. Question
Consider the price of Quinoa from 2013-14
What must have happened to demand in order to cause this?
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Question 3 of 6
3. Question
Consider the price of Quinoa from 2014-15
What must have happened to supply in order to cause this?
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Question 4 of 6
4. Question
Which TWO of the following shocks would cause an increase in prices of Virgin Atlantic flights?
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Question 5 of 6
5. Question
Which TWO of the following shocks would cause an decrease in prices of flights across the whole airline industry?
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Question 6 of 6
6. Question
What, according to the content, is the main reason for genuine shortages?
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