Quiz Demand

The change in the price of the good itself is a factor that makes the demand curve shift.

• True
• False

Increase in income will rise demand of the inferior goods.

• True
• False

If the tax rate fall, then the demand of goods will fall as well.

• True
• False

External shocks are factor beyond the control of businesses can have an impact on the demand for products.

• True
• False

If the price of a Pepsi rises, the quantity demanded of Pepsi fall. As a result the demand for Coca Cola would rise.

• True
• False

Demographic changes, such as an aging population, will not lead to a change in demand for products and services catering to older individuals.

• True
• False

Seasonal changes can cause fluctuations in the demand for certain products.

• True
• False

A change in tastes and preferences in favor of a product will cause the demand curve for that product to shift to the left.

• True
• False

A decrease in the price of a substitute good will shift the demand curve for a product to the right.

• True
• False

Advertisements and promotional campaigns can lead to a change in demand.

• True
• False