Mr. Johnson's Delightful Demand Challenge

Which statement bests illustrates the law of demand?

• As price increases, demand increases
• As price decreases, demand increases
• As price increases, quantity demand increases
• As price decreases, quantity demand increases

Which way does a decrease in demand shift?

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Which way does an increase in demand shift?

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What would be the best example of a substitute good for an apple?

• Pizza
• Pear
• Carrot
• Cupcake

What is the best example of a substitute good for a hamburger?

• french fries

• milkshake

• chicken sandwich

• pickles

What is the best example of a complementary good for tortilla chips?

• apple

• spaghetti

• chocolate

• salsa

What would be the best example of a complementary good for a hot dog?

• Cheeseburger
• Pizza
• Fries
• Broccoli

Quantity demanded moves along the demand curve in response to changes in

• price.
• income.
• preferences.
• expectations.

Market for Burgers: The price of french fries decreases.

What diagram shows what will happen as a result of the scenario?

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Market for Burgers: The price of french fries decreases. What is the best explanation for the change?

• Change in the Price of a Complementary Good
• Quantity Demand increases due to a decrease in price
• Quantity Demand decreases due to an increase in price
• Change in the Number of Consumers/Population
• Change in the Income of Consumers