Demand

Consumers are

• People that sell goods and services

• People that buy goods and services

• People that consume food

• None of the above

Demand means

• the amount of a good or service that consumers are willing to buy.

• is the amount of a good or service produced.

• is the price that is demanded by consumers.

• None of the above.

What does the law of demand say

• consumers will buy less of something when price goes down.

• consumers will buy more of something when price increases.

• consumers will buy more of something when prices go down.

• None of the above.

If the price of a good or service increases what will happen to the demand for it?

• increase

• decrease

• stay the same

• who knows

A factor that can change the amount demanded for a good would be

• Income

• Population

• Tastes

• All of the above

If a good becomes popular or fashionable, what will happen with the demand for the good?

• Decrease

• Stay the same

• Increase

• None of the above

When it comes to substitute goods; if the price of sprite increases, what will happen with the demand for a substitute good such as 7-up?

• Increase

• Decrease

• Stay the same

• None of the above

If demand for one complementary good like a printer decreases what would happen with the demand for ink cartridges?

• Increase

• Decrease

• Stay the same

• None of the above

________ is the amount of a good or service that consumers are willing to buy?

• Substitute good

• Complementary good

• demand

• consumer

As prices go up, ______________ goes down.

• Supply
• Demand
• Utility