SOCSCI 9.QUIZ.004.DEMAND

Student Name (LAST, FIRST MI.):

Student Number:

Subject:

• GE 6
• GE 6

Days:

• MWF
• TTH
• SAT

Time Start:

Time End:

Contact Number:

Which of the following is a graphical representation of the relationship between the price of a good and the quantity demanded?

• Demand schedule
• Supply curve
• Demand curve
• Market equilibrium

According to the law of demand, what happens to quantity demanded when the price of a good decreases, assuming other factors remain constant?

• Quantity demanded decreases
• Quantity demanded remains the same
• Quantity demanded increases
• Quantity demanded becomes unpredictable

What does the ceteris paribus assumption mean in economics?

• All things are equal
• Nothing changes
• Everything changes simultaneously
• Some things change