Changes in Quantity Demanded

The law of demand states that as the price for a good or service goes up the quantity demanded will:

• go up

• go down

• not change

• go to the left

When the demand for a good or service is not very affected by a change in price this means the good or service is:

• not real

• not necessary

• inelastic

• elastic

If the price of this product is $9 what is the quantity demanded per month?

• $1

• $3

• $5

• $7

If the price of televisions is $5 billion what is the quantity demanded per billion?

• 10

• 20

• 30

• 35

The quantity demanded for soap is 15. What is the approximate price for soap?

• $0

• $20

• $40

• $60

This graph represents the demand for a good or service. This good or service is:

• elastic

• inelastic

• not necessary

• not real

This graph represents the demand for a good or service. This good or service is:

• elastic

• inelastic

• not necessary

• not real

What causes a change in quantity demanded?

• A change in consumer income

• A change in production possibilities

• A change in the number of sellers

• A change in price

On this graph the demand curve is represented by the letter:

• S

• D

• Q

• P

On a demand graph price is ALWAYS on which axis?

• x

• y

• z

• f