Exercises

Skills required: Distinguish demand and quantity demanded

Skills required: Distinguish supply and quantity supplied

Skills required: Distinguish demand and quantity demanded

Skills required: Distinguish supply and quantity supplied

Skills required: Recall the law of demand

Skills required: Recall the law of supply

Skills required: Understanding the concepts

Skills required: Understanding the meaning of equilibrium, equilibrium price, equilibrium quantity, State the equilibrium condition

Skills required: Understanding the meaning of equilibrium, equilibrium price, equilibrium quantity, State the equilibrium condition, Find the equilibrium price and quantity transacted from a demand and supply diagram, Draw a diagram with demand and supply curve

Skills required: Understanding the concepts

Skills required: Draw a downward sloping demand curve

Skills required: Draw a upward sloping supply curve

Skills required: Understanding the meaning of shortage, Identify shortage from a demand and supply diagram, Identify the quantity transacted under shortage from a demand and supply diagram

Skills required: Understanding the meaning of surplus, Identify surplus from a demand and supply diagram, Identify the quantity transacted under surplus from a demand and supply diagram

Skills required: Understanding the meaning of shortage and non-price competition

Skills required: Distinguish the difference between demand and quantity demanded

Skills required: Distinguish the difference between demand and quantity demanded

Skills required: Distinguish the difference between supply and quantity supplied

Skills required: Distinguish the difference between supply and quantity supplied

Skills required: Understand the meaning of joint demand and production of production.

Skills required: Understand the meaning of competitive demand

Skills required: Understand the meaning of joint supply and factor of production

Skills required: Understand the meaning of competitive and factor of production

Skills required: Find the corresponding price and quantity demanded from a demand table

Skills required: Find the corresponding price and quantity supplied from a supply table

Skills required: Find the equilibrium price and quantity transacted from a demand and supply table, state the equilibrium condition

Skills required: Understanding the concepts, Understanding the meaning of equilibrium, Identify the quantity transacted under shortage, Identify the quantity transacted under surplus

Skills required: Distinguish demand and quantity demanded

Skills required: Distinguish supply and quantity supplied

Skills required: State the law of demand, Give examples that can illustrate the law of demand

Skills required: Distinguish the difference between supply and quantity supplied, understanding the market mechanism

Skills required: Distinguish the difference between demand and quantity demanded, understanding the market mechanism

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Identify surplus from a demand and supply table, Identify the quantity transacted under surplus from a demand and supply table

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Identify shortage from a demand and supply table, Identify the quantity transacted under shortage from a demand and supply table

Skills required: Understanding the meaning of surplus, Identify surplus from a demand and supply diagram, Identify the quantity transacted under surplus from a demand and supply diagram, Understanding the market force, State the equilibrium condition

Skills required: Distinguish the difference between supply and quantity supplied, understanding the market mechanism

Skills required: Understanding the meaning of shortage, Identify shortage from a demand and supply diagram, Identify the quantity transacted under shortage from a demand and supply diagram, Understanding the market force, State the equilibrium condition

Skills required: Understanding the meaning of shortage, Understanding the meaning of surplus Understanding the market force

Skills required: Understanding the meaning of shortage, Identify shortage from a demand and supply diagram, Identify the quantity transacted under shortage from a demand and supply diagram

Skills required: Understand the meaning of derived demand and production of production.

Skills required: Understanding the meaning of surplus, Identify surplus from a demand and supply diagram, Identify the quantity transacted under surplus from a demand and supply diagram

Skills required: Draw a downward sloping demand curve, Understand the law of demand

Skills required: Understanding the meaning of shortage, Give examples that can show the concept ‘shortage’, Under the reason of black market exist under shortage

Skills required: Understanding the meaning of shortage, Give examples that can show the concept ‘shortage’, Under the reason of black market exist under shortage

Skills required: Distinguish the difference between demand and quantity demanded

Skills required: Understanding the meaning of shortage, Give examples that can show the concept ‘shortage’, Identify shortage form the condition given by a question

Skills required: Understand the background information, able to draw a supply-demand diagram, identify the change in production cost, able to show the change in demand in the diagram

Skills required: Understand the background information, able to show the current condition in a diagram, understand the meaning of shortage, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Distinguish the difference between supply and quantity supplied, understanding the meaning of fixed in price

Skills required: Distinguish the difference between demand and quantity demanded

Skills required: Distinguish the difference between supply and quantity supplied, understanding the meaning of fixed in price

Skills required: Understand the relationship between two products, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understand the meaning of normal goods, understand the effect of increase in household income, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understanding the meaning of surplus, Give examples that can show the concept ‘surplus’, Identify surplus form the condition given by a question, Able to explain how the market force helps to solve the problem of surplus, Identify surplus form the condition given by a question

Skills required: Understand the background information, able to draw a supply-demand diagram, identify the relationship between two products, understand the meaning of competitive supply, able to show the change in demand in the diagram

Skills required: Understand the background information, able to draw a supply-demand diagram, identify the relationship between two products, understand the meaning of complement, able to show the change in demand in the diagram

Skills required: Understand the background information, able to draw a supply-demand diagram, identify the relationship between two products, , understand the meaning of derived demand, able to show the change in demand in the diagram

Skills required: Understand the background information, able to show the current condition in a diagram, understand the meaning of shortage, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understand the meaning of substitutes, understand the relationship between two products, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understand the background information, able to show the current condition in a diagram, understand the meaning of surplus, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understand the meaning of complement, understand the relationship between two products, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understand the meaning of derived demand, understand the relationship between two products, able to draw a supply-demand diagram, able to show the change in demand in the diagram

Skills required: Understanding the situation, Understand the reason of black market exists under shortage, Identify shortage form the condition given by a question, Draw a diagram with demand and supply curve, Show the related condition in the diagram

Skills required: Understanding the situation, Explain how the market force helps to solve the problem of shortage, Identify shortage form the condition given by a question, Draw a diagram with demand and supply curve, Show the related condition in the diagram

Skills required: Understanding the situation, Explain how the market force helps to solve the problem of surplus, Identify surplus form the condition given by a question, Draw a diagram with demand and supply curve, Show the related condition in the diagram