Unit #2 Standard #2

What is movement along the demand curve?

• When the Quantity Demand changes because of price changes

• When the Quantity Demand changes while price remains the same(other factor)

Which one is demand move along the curve?

• 
• 

Which one is demand shifting?

• 
• 

A Demand Curve is represented on a graph as a...

• Downward sloping curve

• Upward sloping curve

• Curve could be downward or upward sloping

• None of these are correct

Which of the following mathematical relationships accurately describes a Supply Curve?

• Inverse

• Opposite

• Positive

• Negative

The place where demand and supply cross is called...

• Nirvana

• Shortage

• Surplus

• Equilibrium

What is the only factor that does not shift or change demand or supply, it only causes movement along a stable demand or supply curve?

• population

• income

• price

• tastes and preferences

If Supply stays the same, but Demand increases (shifts to the right), what effect does that have on Price and Quantity in the market

• Price Increase, Quantity Increase

• Price Increase, Quantity Decrease

• Price Decrease, Quantity Increase

• Price Decrease, Quantity Decrease

Printers and ink cartridges are typically purchased together. Economists would call these

• Substitutes

• Complements

• Elastic

• Inelastic

Consuming more of one good because of a change in price of another good is known as the

• income effect

• substitution effect

• elasticity effect

• demand effect