Economics chapter 4

graphically shows the data from a demand schedule

• Demand Schedule

• Market Demand Schedule

• Law of Demand

• Demand

• Demand Curve

graphically shows the data from a market demand schedule

• Demand Schedule

• Market Demand Schedule

• Law of Demand

• Demand

• Market Demand Curve

is a listing of how much of an item all consumers are willing to purchase at each price

• Demand Schedule

• Market Demand Schedule

• Law of Demand

• Demand

• Market Demand Curve

states that when prices go down, quantity demanded increases.

When prices go up, quantity demanded decreases.

• Demand Schedule

• Market Demand Schedule

• Law of Demand

• Demand

• Market Demand Curve

is the willingness to buy a good or service and the ability to pay for it

• Demand Schedule

• Market Demand Schedule

• Law of Demand

• Demand

• Market Demand Curve

Which of the following would lead to the highest prices?

• High Supply

• High Demand

• Low Demand

In general, if the price of a good or service goes up, what happens to the demand for that good or service?

• demand goes up

• demand stays the same

• demand goes down

• none of the above

What will happen to the price of tomatoes if there is a drought and less tomatoes are produced?

• the price will increase

• the price will decrease

• the price will stay the same

• the price will not be affected

According to the Law of Demand, when prices drop...

• demand will also drop

• demand will increase

• quantity demanded is unchanged

• supply increases

What is the law of demand?

• When prices go down, demand increases;whe prices go up, demand decreases
• when prices go up, demand increases;when prices go down, demand decreases
• when prices go down, quantity demanded increases;when prices go up, quantity demanded decreases
• when prices go up ,quantity demanded increases; when prices go down, quantity demanded decreases