I'm listing a new product in my store and need the buyer to answer some questions during the purchase. In the Product Setting page, I know I can add Custom Fields to create inputs. I have an input type Select with some options, and I want the form to display different questions based on the option selected. Is it possible to dynamically change the questions based on the selected option?

Custom fields do not relate at this point in time, I'm afraid. You're more than welcome to suggest this in our Feedback forum though.