4 Demand

4 Demand

12th Grade

16 Qs

quiz-placeholder

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Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Nicole Anne De Almeida

Used 7+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any place people come together to buy and sell goods or services

market

demand

law of demand

substitute

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the willingness and ability of buyers to purchase different quantities of a good at different prices during a specific time period

market

demand

elasticity of demand

complement

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A law stating that as the price of a good increases, the quantity demanded of the good decreases and that as the price of a good decreases, the quantity demanded of the good increases

The law of Demand

Elasticity of Demand

Substitute

Inferior good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number of units of a good purchased at a specific price

Elasticity of demand

Quantity demanded

law of demand

normal good

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a law stating that as a person consumes additional units of a good, the utility gained from each additional unit of a good will eventually decrease

law of diminishing marginal utility

law of demand

elasticity of demand

inferior good

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The numerical representation of the law of demand

demand schedule

law of demand

demand curve

elasticity of demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the graphical representation of the law of demand

demand curve

demand schedule

law of demand

elasticity of demand

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