Changes in Demand

Which of the following will cause an increase in demand for snowboards?

• More costly production methods 
• A decrease in the price of lift tickets at resorts in Colorado 
• A decrease in consumer income   
• A decrease in the population 

Americans revive their love of SUV’s and the newly remodeled, but still “gas guzzling” Hummer. What happens to the market for gasoline?

• Demand for gasoline will decrease

• Demand for gasoline will increase

• Demand for gasoline will stay the same

• Demand for insurance agents will decrease

Due to a disappointing economy, Americans are cutting back on the family vacation road trips. What happens to the market for gasoline?

• Demand for gasoline will decrease

• Demand for gasoline will increase

• Demand for gasoline will stay the same

• The demand for airline tickets will increase

Demand means

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

• is the amount of a good or service produced.

• is the price that is demanded by consumers.

• None of the above.

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

• increase

• decrease

• stay the same

• who knows

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

• increase

• decrease

• stay the same

• who knows

What does this downward sloping curve represent?

• supply

• equilibrium

• demand

• surplus

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

• Supply increases.

• Supply decreases.

• Demand increases.

• Demand decreases

What goes on the horizontal axis (x axis) of a demand graph?

• price

• quantity demanded

• quantity supplied

• change in demand

What goes on the vertical axis (y axis) of a demand graph?

• price

• quantity demanded

• quantity supplied

• changes in demand