2.2 Change in Demand

Change in Demand

Open Ended

What does  $\Delta$  D  stand for? 

What does  $\Delta$  QD  stand for?

Multiple Choice

What is the ONLY factor that change QD? (quantity demanded)

• price

• supply

• wages

Multiple Choice

When there is a   $\Delta$  QD (change in quantity demanded) what does the graph look like?

Change in Price

Still the same line (curve)

2 dots- the original price dot and the new price dot.

NOT 2 different lines

Multiple Choice

When something OTHER THAN $$ changes, which is it?

• $\Delta$ QD

• $\Delta$ D

Multiple Choice

When we SHIFT the entire demand curve, we draw a NEW LINE parallel to the original one.

• True

• False

Multiple Choice

If demand INCREASES, which direction do you shift the curve?

• left

• right

Multiple Choice

If demand DECREASES, which direction do you shift the curve?

• left

• right

Open Ended

When you shift the curve, RIGHT is _____________

Open Ended

When you shift the curve, LEFT is ____

Open Ended

What does the P stand for in P.I.N.E.R.?

Open Ended

What does the I stand for in P.I.N.E.R.?

Open Ended

What does the N stand for in P.I.N.E.R.?

Open Ended

What does the E stand for in P.I.N.E.R.?

Open Ended

What does the R stand for in P.I.N.E.R.?

Open Ended

When one good can be used for another good, it is called a ________ (for example, wheat bread instead of white bread)

Open Ended

When 2 goods go together, like milk and cereal, what is it called?

Open Ended

What acronym is associated with DEMAND?

Multiple Choice

On a graph, the difference in Change in Demand versus Change in Quantity demanded is

• 1 line with 2 dots / versus 2 parallel lines

• lines sloping up / versus lines sloping down