Class work-Grade 9- Economics, Topic: - Demand, Supply and Price determination

Missing words

1. Economist define demand as the willingness and ……………………………… to buy a product

2. A market is said to be in …………………………………………when demand is not equal to ………………………
3. A fall in demand for a product will cause a ………………………. In price and a ……………………… in supply
4. There will be downward pressure on the price of a product if …………………………..
exceeds………………………

Drawing diagrams

In each case, use a demand and supply diagram to illustrate the effect on the market for a news paper
of;

1. A rise in the price of a rival newspaper

2. A rise in the price of cost of print
3. A subsidy given to newspaper producers
4. More people reading news paper from online
5. A major news story breaking

Difference

1. Identify one way in which each of the following pairs is different

2. Extension in supply and an increase in supply
3. Complements and substitutes
4. Law of supply and law of demand
5. A Change in demand and a changing quantity demanded

Structured Questions

1. What is the relationship between demand and price?

2. Mention the main factors influencing demand for soccer match ticket
3. What is the difference between equilibrium and disequilibrium price
4. Demand for smart phones is still increasing but their price is falling. Use a demand and supply
diagram, to explain this

1 Grade 9 Economics 2024 ANIL