Demand Quiz

When the price of a good increases, the quantity demanded ____.

• decreases

• increases

• stays the same

• cannot be determined

If the price of tacos at Taco Bell decreases, then the quantity demanded of tacos will ____ (all other things being equal).

• decrease

• increase

• stay the same

• cannot be determined

When will people search harder for substitutes for oil?

• when the price of oil is low

• when the price of oil is high

• people are not incentivized to search for substitutes for oil

• when the price of oil stays the same

The following happens: Tesla announces it will start selling self-driving vehicles in six months. What determinant of demand is this for the current car market?

• change in income

• change in population

• change in expectations

The price of bagels increases. What happens to the demand curve of cream cheese?

• demand curve shifts left

• demand curve shifts right

• demand curve does not shift, but rather there is movement along the demand curve.

An example of a substitute for coffee is ___________.

• tea
• straws

• sugar

• carrots