Demand Quiz

Demand Quiz

12th Grade

15 Qs

quiz-placeholder

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Demand Quiz

Demand Quiz

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Alan Green

Used 11+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What does this curve represent?

supply
equilibrium
demand
surplus

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the price of aspirin is likely to be paired with a(n) ___________________ in the demand for Tylenol because the two goods are __________________.

increase; complements
increase; substitutes 
 decrease; complements 
 decrease; substitutes

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the price of printers goes down, what happens in the market for ink cartridges?

Supply increases.
Supply decreases.
Demand increases.
Demand decreases

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A table that lists the quantity of a good that a single person will buy at each price in a market.

demand schedule
market demand schedule
elasticity chart
supply and demand graph

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the law of demand, as price rises, what happens to quantity demanded?

it increases

it decreases

it stays the same

it is not effected

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Law of Demand says there is a(n) ______________ between the price of a good and the quantity demanded.

Undefined Relationship

Direct Relationship

Inverse Relationship

Exact Relationship

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