Lesson 3. Demand and determinants of demand

Lesson 3. Demand and determinants of demand

University

10 Qs

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Lesson 3. Demand and determinants of demand

Lesson 3. Demand and determinants of demand

Assessment

Quiz

Business

University

Medium

Created by

phuong Trinh

Used 31+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________ is the amount of product that people would be willing and able to purchase at every possible price. Meanwhile, _________ is the amount of a product that people are willing and able to purchase at a specific price.

Demand; Quantity demanded

Quantity demanded; Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of demand, when price ............, the quantity demanded .....

increases, decreases

increases, increases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumers’ income increases, demand for normal goods ______ and the demand curve shifts ________

Increases; leftward

Increases; rightward

Decreases; leftward

Decreases; rightward

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When there are less buyers, demand ______ and the demand curve shifts ________

Increases; leftward

Increases; rightward

Decreases; leftward

Decreases; rightward

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When prices are expected to decrease in the future, demand ______ and the demand curve shifts ________

Increases; leftward

Increases; rightward

Decreases; leftward

Decreases; rightward

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumer’s income is expected to rise in the future, demand ______ and the demand curve shifts ________

Increases; leftward

Increases; rightward

Decreases; leftward

Decreases; rightward

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumers don’t like the products, demand ______ and the demand curve shifts ________

Increases; leftward

Increases; rightward

Decreases; leftward

Decreases; rightward

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