Front

The desire to have some good or service and the ability to pay for it

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demand

Front

Which of these best describes the law of demand? Options: if prices go up, quantity demanded will fall and if prices go down, quantity demanded will go up, if prices go up, quantity demanded will also go up and if prices go down, quantity demanded will also go down, there is no law of demand, each situation is unique and demand and prices cannot be predicted, prices will go up for certain goods when quantity demanded goes up and vice versa

Back

if prices go up, quantity demanded will fall and if prices go down, quantity demanded will go up

Front

A change in the price of a good causes people to buy more or less of an item. This best describes the concept of

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change in quantity demanded

Front

The quantity demanded of a good or service changes at all price levels best describes the concept of

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change in demand

Front

Which of these shows a decrease in the quantity demanded?

Back

Front

Which of these shows an increase in the quantity demanded?

Back

Front

The diagram represents a

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increase in demand

Front

If the price of Frozen Yogurt increased then the demand for ice cream will

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increase

Front

The downward slope of a demand curve

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represents the law of demand

Front

The phrase "a change in demand" most directly implies a

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shift in the demand curve