Please answer these questions(No explanation required)

1.When the government interferes with a free market economy by using price controls, this usually results in:

a. Neither 'a' nor 'b'.

b. Both 'a' and 'b'.

c. The occurrence of shortages.

d. An inefficient use of resources.

2.By definition an economic 'market' is:

a. A group of buyers and sellers of specific goods and services.

b. A group of sellers of specific goods and services.

c. None of these.

d. A group of buyers of specific goods and services.

3.Your demand for DVD's is

a. the number of DVD's you would like to have if they were available at no charge.

b. the number of DVD's you would purchase at today's price.

c. the number of DVD's you would purchase at various prices.

d. dependent on the supply of DVD's.

4.The law of demand is based on the observation that

a. stores go out of business if they lower prices.

b. people are indifferent to price changes.

c. people buy less of a product when the product becomes less fashionable.

d. people buy more of a product when the price falls.

5.A fundamental principle in demand analysis is that a change in price leads to

a. a movement along the demand curve.

b. a complementary movement on the supply curve.

c. a rightward shift of the demand curve.

d. a leftward shift of the demand curve.