DEMAND

DEMAND

Multiple Choice

When we talk about the demand for a product, we are basically talking about..

• the price

• the quality

• the popularity

• the appearance

Multiple Choice

The law of demand deals with how ____ effects the quantity demanded.

• feelings

• price

• appearance

• service

Multiple Select

Black Friday sales are used by retailers for the purpose of...(check all that apply)

• getting rid of excess product

• helping the consumer

• creating more jobs

• increasing the demand

Multiple Choice

How could the substitution effect impact the demand for a name-brand product?

• increase the demand

• decrease the demand

• no effect on demand

Multiple Choice

The concept of diminishing marginal utility describes the decrease in demand due to the decrease in _______

• popularity of a product

• quality of a product

• satisfaction from a product

• all of the above