Question 1
1 markIn economics, what is meant by the term demand?
Cambridge OCR GCSE (9-1) · Economics - J205
Demand: Practice Questions
5 multiple-choice questions marked as you go, and 2 written questions with worked solutions. All on Demand.
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Question 2
1 markIf the price of coffee rises significantly, and coffee and tea are considered substitute goods, what is the most likely impact on the demand for tea?
Question 3
1 markIn the market for electric cars, two events occur simultaneously:
1. The price of lithium (a key component in batteries) falls.
2. The government increases subsidies provided to consumers who purchase electric vehicles.
What is the certain effect on the equilibrium quantity and equilibrium price?
Question 4
1 markWhich of the following is the most accurate definition of the term demand in a market?
Question 5
1 markIf an increase in the price of Good A causes a rightward shift in the demand curve for Good B, what can be concluded about the relationship between these two goods?
Question 6
2 marksWhat is meant by the term demand in a market economy?
Write your answer out first, then check it against the worked solution.
Question 7
3 marksa) Define the term demand.
b) Use the following data to calculate the market demand for Product X at each price level:
Price: \(£10\) | Consumer A: \(12\) units | Consumer B: \(15\) units
Price: \(£12\) | Consumer A: \(8\) units | Consumer B: \(10\) units
Write your answer out first, then check it against the worked solution.
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