How does a competitive market work? – Séance 3
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Question 1 of 10
1. Question
What is the response of consumers to an increase in petrol prices?
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Question 2 of 10
2. Question
What is the response of businesses to an increase in petrol prices?
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Question 3 of 10
3. Question
When price increases, the quantity demanded increases.
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Question 4 of 10
4. Question
When price decreases, the quantity supplied increases.
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Question 5 of 10
5. Question
When price decreases, the quantity demanded increases.
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Question 6 of 10
6. Question
When the price increases, the quantity supplied increases.
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Question 7 of 10
7. Question
What does a near vertical slope mean for the demand curve?
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Question 8 of 10
8. Question
What does a near horizontal slope mean for the demand curve?
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Question 9 of 10
9. Question
Which is NOT a determiner for demand?
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Question 10 of 10
10. Question
Which is NOT a determiner for supply?
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