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Demand pt 2

Demand pt 2

Assessment

Presentation

•

Social Studies

•

11th - 12th Grade

•

Medium

Created by

Susan Highfield

Used 8+ times

FREE Resource

41 Slides • 27 Questions

1

Demand pt 2

Some practice and some review

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2

BUT FIRST....

yep, you guessed it...a little review of Pt 1...only 7 questions

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4

Multiple Choice

What is required for demand?

1

cash and desire

2

willing and able

3

consumers and producers

5

Multiple Choice

The Law of Demand says there's a Direct relationship between price and quantity demanded.

1

True

2

False

6

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7

Multiple Choice

If you eat the same thing for lunch every day, you'll probably get sick of it.

1

Substitution Effect

2

Income Effect

3

Law of Diminishing Marginal Utility

8

Multiple Choice

Which is NOT one of the 5 shifters of Demand?

1

tastes & preferences

2

number of consumers

3

income

4

curves

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10

Multiple Choice

Coke and Pepsi

1

substitutes

2

complements

11

Multiple Choice

bread and peanut butter

1

substitutes

2

complements

12

Multiple Choice

It is correct to say that the demand curve moves up and down.

1

True

2

False

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27

Multiple Choice

If you make more money you will buy more of these

1

normal goods

2

inferior goods

28

Multiple Choice

If you make less money you will buy more of these

1

normal goods

2

inferior goods

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31

Multiple Choice

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Would SPAM be a normal or an inferior good?

1

normal good

2

inferior good

32

Multiple Choice

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Would generic or store brand cereal be a normal or an inferior good?

1

normal good

2

inferior good

33

Multiple Choice

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Would a yacht be a normal or an inferior good?

1

normal good

2

inferior good

34

Multiple Choice

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Would ramen noodles be a normal or an inferior good?

1

normal good

2

inferior good

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45

You'll need some paper (seriously) and something to write with

Don't worry, you won't have to write very much.

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49

Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if there is a population boom.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

50

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if there is a population boom?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

51

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Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if incomes fall due to a recession.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

53

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if incomes fall due to a recession?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

54

Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if the price of tacos, a substitute, decreases.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

55

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if the price of tacos, a substitute, decreases?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

56

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Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if there is a new health craze that encourages people NOT to eat ground beef.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

58

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if there is a new health craze that encourages people NOT to eat ground beef?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

59

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Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if hamburger restaurants announce that they will significantly increase prices NEXT month.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

61

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if hamburger restaurants announce that they will significantly increase prices NEXT month?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

62

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if the price of hamburgers increases to $5?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

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Multiple Choice

Identify the SHIFTER for hamburgers (a normal good) if the price of fries, a complement, increases.

1

tastes & preferences

2

number of consumers

3

price of related goods (complements of substitutes)

4

income

5

future expectations

65

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if the price of fries, a complement, increases?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

66

Multiple Choice

Which way would the curve move for hamburgers (a normal good) if restaurants lowered their prices to $0.50?

1

right (increase)

2

left (decrease)

3

curve wouldn't move

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Demand pt 2

Some practice and some review

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