Shifts in Demand

Open Ended

What are the 5 non-price determinants of demand?

Multiple Choice

Which answer best describes a normal good?

• a good whose demand is unaffected by changes in price

• a good whose price is unaffected by changes in demand

• a good consumers demand less of as their incomes increase

• a good consumers demand more of as their incomes increase

Multiple Choice

What would you expect to be the impact of an event such as a forecast of a major storm on demand for storm-related supplies?

• a shift in the demand curve to the right

• a change upward along the original demand curve

• a shift in the demand curve to the left

• a change downward along the original demand curve

Multiple Choice

In general, a decrease in consumer income will have what effect on demand for normal goods?

• It will have no effect

• It will cause demand to rise

• It will cause demand to fall

• It will cause demand to fluctuate sharply

Multiple Choice

Which of the following is the best example of substitute for movie tickets?

• inferior goods

• jewlery

• takeout pizza

• rentals of on-demand programming

Multiple Choice

A change in demand for one good will have what effect on its complement?

• no effect

• different effects at different times

• the same effect

• the opposite effect