ECO (4.1B) Demand Pt 2 Quiz

1. As consumer income increases, demand _____.

• increases
• decreases
• remains unchanged
• could increase or decrease

2. As consumer income decreases, demand _____.

• increases
• decreases
• remains unchanged
• could increase or decrease

3. Consumer taste is influenced by which of the following?

• peer group pressure
• advertising
• changes in seasons
• all of the above

4. Quantity demanded is represented graphically by:

• the entire supply curve
• one particular point on the supply curve
• one particular point on the demand curve
• the entire demand curve

5. True or false. A change in quantity demanded is caused by one thing only -- a change in the PRICE of that product.

• True
• False

6. A product that can be used in place of another product is known as a what?

• complementary product
• conditional product
• substitute product
• situational product

7. A product whose use is tied to the use of another product is known as a what?

• complementary product
• conditional product
• substitute product
• situational product

8. True or false. The expectations of consumers can cause the demand for a product to change.

• True
• False

9. True or False. As more consumers enter the market, the demand for a product decreases.

• True
• False

10. If the price of dvd players decreases, the demand for dvds will _____.

• decrease
• increase
• remain unchanged