Law of Demand
Authored by Linh Do
Social Studies, English, Business
University - Professional Development
Used 10+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Demand is how much of the same goods or services people would like to buy.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The law of demand is not easy to understand.
True
False
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The law of demand says that when people want more of something, its price rises.
True
False
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The law of demand says that when the price of something rises, the demand for it decreases.
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The law of demand works because the money we have is limited.
True
False
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The law of demand cannot apply to basic necessities like water and gasoline.
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Price elasticity shows the measurement of the effect of a change in price on quantity demanded.
True
False
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