Demand

Front

Demand means

Back

the amount of a good or service that consumers are willing to buy.

Front

What does the law of demand say?

Back

consumers will buy more of something when prices go down.

Front

If the price of a good or service decreases what will happen to the demand for it?

Back

increase

Front

If the price of a good or service increases what will happen to the demand for it?

Back

decrease

Front

What does this curve represent? Options: supply, equilibrium, demand, surplus

Back

demand

Front

If the price of printers goes down, what happens in the market for ink cartridges?

Back

Demand increases.

Front

What goes on the horizontal axis (x axis) of a demand graph?

Back

quantity demanded

Front

Price goes on ________

Back

the vertical axis

Front

The price of petrol/gas is expected to increase next week. Then today the demand for petrol/gas will

Back

increase

Front

In a market economy, who decides on the prices of goods and services? Options: government, buyers and sellers, firms, local leaders

Back

buyers and sellers