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Which of the following is a good?
a tutoring session
Which of these would be considered an economic activity?
Donating resources to a local church
Putting together a gift basket for an elderly neighbour
Selling tickets of a sport event
Which of the following is not a component of demand?
How do you think demand for a commodity and its price are related?
When prices fall, demand falls
When prices fall, demand rises
When prices fall, no effect on demand
How do you think producers react to changes in prices?
They increase supply when prices increase
They decrease supply when prices increase
They do not respond to changes in prices
A shortage will cause price to
When there is a shortage what should be done?
What decides prices?
Both Demand and Supply
You are a manager in a company that sells laptops? Due to the pandemic, demand for laptops has gone up. The increase in demand is due to:
Change in consumer behaviour
Price of substitute good
How can supply keep up with demand for COVID 19 vaccines?
Scaling up manufacturing