Demand Quiz

Which accurately describes the Law of Demand

• People will by more of something if it costs more.
• People will avoid the cheapest products.
• People will buy more of something at lower prices

The diagram represents a

• increase in demand
• decrease in demand

A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in

• market size
• price of a substitute good
• price of a complementary good
• tastes and preferences 

The amount of a good or service that consumers are willing and able to buy at a SPECIFIC PRICE

• Demand
• Quantity Demanded
• Supply
• Quantity Supplied

What factor could have caused the demand to decrease?

• incomes increased
• expectation that prices will increase 
• a decrease in the price of a substitute 
• increase in market size

An decrease in quantity Demanded is located by moving from point ________ to point_________

• Moving from A to B

• Moving from A to C

• Moving from C to A

• Moving from B to A

An increase in Demand is located by moving from point ________ to point_________

• Moving from A to B

• Moving from A to C

• Moving from C to A

• Moving from B to A

What caused this to happen?

• Decrease in income
• Increase in Income
• Increase in price of substitute
• Decrease in price of complement

What caused this to happen?

• Increase in consumer interest
• Increase in Income
• Increase in price of complement
• Decrease in price of complement

What caused this to happen to the demand for gummy bears?

• Price of gummy worms increases
• New T.V. ad illustrates 50% of cavities are bear related
• Minimum wage is increased 7%
• Gummy bears become the official candy of netflix