MArket forces - Demand

The demand curve shows that:

• as price decreases, demand increases

• price changes are always in the same direction as demand changes

• as price increases, quantity demanded increases

• as price decreases, quantity demanded increases

Which of the following will not shift an individual consumer's demand curve for butter?

• the price of butter

• the price of margarine

• the consumer's income

• the consumer's taste

According to economic theory, a change in demand of any good is not caused by:

• changes in consumers' preferences for that good

• changes in the general income levels of the consumers who buy that good

• an increase or decrease in the population

• changes in the price of that good

A rise in consumers' income will cause:

• a movement along the demand curve

• an increase in quantity demanded

• the demand curve to shift to the right

• the demand curve to shift to the left

A demand curve is normally drawn with:

• price on the vertical axis and population on the horizontal axis

• price on the vertical axis and quantity demanded on the horizontal axis

• quantity demanded on the vertical axis and income on the horizontal axis

• quantity demanded on the vertical axis and price on the horizontal axis

All of the following are conditions of demand except:

• productivity

• population

• income

• tastes and fashion

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

Tags

CCSS.8.EE.B.5

Demand is the desire and the __________ to buy a product or service

• need
• time
• plan
• ability

Printers and ink cartridges are typically purchased together.  Economists would call these

• Stubstitues
• Complements
• Elastic
• Inelastic

Which of these are determinants of demand?

• Income

• Tastes and preferences

• Price of other goods

• All of these

• None of these