Economics Demand Quiz

the desire for a commodity backed by ability or capacity and willingness to pay its price and buy it is called ______

• Demand

• Supply

• Income

• Consumption

The relationship between the price and demand of a commodity is ___________

• Direct

• Inverse

• Opposite

• Straight

goods which can be used in place of each other.

• Substitute goods

• Complementary goods

• Luxuary goods

• Giffen goods

goods which complete the demand for each other and are therefore demanded together

• Substitute goods

• Complementary goods

• Luxuary goods

• Giffen goods

bike and petrol are example of

• Substitute goods

• Complementary goods

• Luxuary goods

• Giffen goods

tabular statement showing the total quantity of the goods demanded by a customer at a particular price.

• Individual demand schedule

• Market demand schedule

• Individual supply schedule

• Market supple schedule

a graphical representation of an individual demand schedule

• individual demand curve

• market demand curve

• individual supply curve

• market supply curve

the total demand of all consumers taken together is called

• market demand

• individual demand

• market supply

• individual supply

tabular statement showing the total quantity of goods demanded by all the consumer at a particular price is called

• market demand schedule

• individual demand schedule

• market supply curve

• individual demand curve

graphical representation of a market demand schedule.

• Market demand curve

• Market demand schedule

• Individual demand curve

• Market supply schedule