Demand

At the core of market theory are the concepts..

• of demand and supply

• of false and wrong

• of right and left

• of demand and offer

ceteris paribus is an assumption that means

• all the other things being changed

• all other things being equal

The Law of Demand may be illustrated using either a

• demand schedule

• demand curve

The increase in demand is for two reasons:

"For most goods, as income rises, the demand for the product will also rise." What kind of good is this sentence explaining?

• Normal Good

• Inferior Good

The three relationships between products are ...

A change in the price of the good itself leads..

• to a shift of the demand curve to the right

• to a shift of the demand curve to the left

• to a movement along the existing demand curve, since the price of the good is on one of the axes.