Fundamentals and Elasticity of Demand
Authored by Elissa Burgess
Social Studies
9th Grade - University
Used 3+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
What is demand?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the Law of Demand?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Law of Demand "works" because of a combination of what two effects?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consuming more of one good because of a change in price of another good is known as the
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This occurs when you feel like you have less money when the price of a good rises.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A table that lists the quantity of a good that a single person will buy at each price in a market.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand for a good is _____ when a small change in price causes a large change in the quantity demanded.
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