3.2 Shifts in Demand

Front

What happens to demand when we drop the ceteris paribus rule?

Back

the entire demand curve can shift

Front

Which answer best describes a normal good? Options: a good whose demand is unaffected by changes in price, a good whose price is unaffected by changes in demand, a good consumers demand less of as their incomes increase, a good consumers demand more of as their incomes increase

Back

a good consumers demand more of as their incomes increase

Front

What would you expect to be the impact of an event such as a forecast of a major storm on demand for storm-related supplies?

Back

a shift in the demand curve to the right

Front

The closing of a major factory in a city is likely to affect which non-price determinants of demand most strongly in the short term? Options: consumer tastes, demographics, income, population

Back

income

Front

"Ceteris paribus" means demand will change when price changes

Back

if other market factors remain constant.

Front

In general, a decrease in consumer income will have what effect on demand for normal goods?

Back

It will cause demand to fall.

Front

The increasing age of the American population is an example of how

Back

changing demographics can cause demand shifts.

Front

Which of the following is the likely result of a successful advertising campaign for an electronic game? a supply curve that has shifted to the right, a supply curve that has shifted to the left, a demand curve that has shifted to the right, a demand curve that has shifted to the left

Back

a demand curve that has shifted to the right