Demand

Open Ended

Why do price and quantity demanded move in opposite directions?

Multiple Choice

What is the income effect?

• a change in quantity demanded caused by a change in consumer income

• a change in demand caused by substitution

• a proportional change in quantity demanded based on income

• an increase in purchase of complements based on an increase in income

Multiple Choice

Which would an economist consider a likely compliment for coffee?

• water

• tea

• chicken

• donuts