Self-control test

1) The law of demand states that there is

	positive relationship between price and quantity demanded
	negative relationship between price and quantity demanded
	positive relationship between income and quantity demanded
	positive relationship between income and quantity demanded

2) When the price of good X increases, the demand for its substitute good

3) Among other factors, the position of supply curve for good X is determined by

	the price of X
	number of producers who produce good X
	the number of consumers who consume good X

4) When the demand for good X increases, the equilibrium price of good X

5) When the supply of good X decreases, the equilibrium price of good X

6) When production technology for good X improves, the equilibrium price of good X

	increases because demand increases
	increases because demand decreases
	decreases because supply increases
	decreases because supply decreases

7) When consumers expect lower prices for good X in the future, the demand for good X

8) Increase in equilibrium quantity of good X can be caused by

	decrease in consumers´ income
	increase in the price of good which is X`s complementary good
	decrease in the factor prices that are used to produce good X