Shifts in Demand Quiz

"Ceteris paribus" means demand will change when price changes

• no matter what other factors may influence the market

• if other market factors remain constant

• only if the supply also does not change

• only if the supply also does not change

In general, a decrease in consumer income will have what effect on demand for normal goods?

• it will have no effect

• it will cause demand to rise

• it will cause demand to fall

• it will demand to fluctuate sharply

The increasing age of the American population is an example of how

• changing demographics can cause demand shifts

• the law of ceteris paribus works

• lack of substitutes can blunt demand shifts

• demand does not always change when prices change

Which of the following is the best example of substitute for movie tickets?

• inferior goods

• jewelry

• takeout pizza

• rentals of on-demand programming

A change in demand for one good will have what effect on its complement?

• no effect

• different effects at different times

• the same effect

• the opposite effect