Demand Yr 11

Demand Yr 11

9th Grade - University

14 Qs

quiz-placeholder

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Demand Yr 11

Demand Yr 11

Assessment

Quiz

Social Studies, Business

9th Grade - University

Practice Problem

Hard

Created by

Seamus Gray

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of Apple computers goes down, what probably happens to the demand for Windows-based computers? *

a. The demand for Windows-based computers increases

b. The demand for Windows-based computers decreases

c. A change in the price of Apple computers has no effect on the demand for Windows-based computers

The demand for Windows-based computers increases

The demand for Windows-based computers decreases

A change in the price of Apple computers has no effect on the demand for Windows-based computers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of olive oil goes up, what probably happens to the demand for corn oil? *

The demand for corn oil increases

The demand for corn oil decreases

A change in the price of olive oil has no effect on the demand for corn oil

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of petroleum goes up, what probably happens to the demand for natural gas? *

The demand for natural gas increases

The demand for natural gas decreases

A change in the price of petroleum has no effect on the demand for natural gas

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If everyone thinks that the price of tomatoes will go up next week, what is likely to happen to demand for tomatoes today? *

a. The demand for tomatoes increases

b. The demand for tomatoes decreases

c. Expectations about the price of tomatoes has no effect on the demand for tomatoes today

The demand for tomatoes increases

The demand for tomatoes decreases

Expectations about the price of tomatoes has no effect on the demand for tomatoes today

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If disposable income decreases or the price of a complementary good rises:

there is an upward movement along the demand curve for the good

there is a downward movement along the demand curve for the good.

the demand curve for a normal good shifts to the left.

the demand curve for a normal good shifts to the left.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A complementry is a good:

used in conjunction with another good.

used instead of another good.

of a lower quality of another good

of higher quality than another good

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each point on the demand curve reflects:

the highest price consumers are willing and able to pay for that particular unit of a good.

the highest price sellers will accept for all units they are producing.

the lowest-cost technology available to produce a good.

all the wants of a given household.

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