Evaluation – Economics

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You have now completed the Forest Economics module. This would be a good time to test what you have learned from this module.

Please complete the questions below by selecting either true or false. Once you have answered all the questions, select the "Click for Results" button.

For any incorrect answers, please read the feedback and review the relevant sections of the course before re-taking the evaluation.

Use the following scenario to go through questions 1 through 11, and then test your knowledge with questions 12 to 15.

Scenario

Under perfect competition there is a balance between quantity demanded and quantity supplied in the market equilibrium. Thus, in the equilibrium market demand and market  supply curves intersect. Let us assume for a wood product market demand as QD=100-5P, where QD is quantity demanded and P is price. Market supply is respectively QS=5P-10, where QS is quantity supplied and P is price. (Use this scenario to answers questions 1 through 11)

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