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Topic 3 Lessons 1-2: Demand 23-24

Authored by Sherry Parker

Social Studies

12th Grade

Used 2+ times

Topic 3 Lessons 1-2: Demand 23-24
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24 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a non-price determinant (shifter) of demand?

Productivity
Consumer Income
Price Ceiling
Subsidy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price of gasoline increases from $3 per gallon to $4 per gallon. What would happen to the demand for gasoline? (Think carefully)

It would decrease and shift the curve to the left
It would increase and shift the curve to the right
The curve would not shift you would simply move up the curve to the left
The curve would not shift you would simply move down the curve to the right

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Suppose you like banana cream pie made with vanilla pudding. Assuming all other things are constant, you notice that the price of bananas are higher. How would your demand for vanilla pudding be affected by this?

It would decrease.
It would increase.
It would be unaffected
There is insufficient information given to answer the question.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of demand states (all other things being equal), as the price of a good or service increases:

demand increases
supply increases
quantity demanded increases
quantity demanded decreases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is difference between changes in quantity and changes in demand?

changes in quantity is a movement along the curve
changes in demand mean a shift of the curve
changes in demand mean a new quantity at every price
all the answers are correct

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the demand elasticity for gasoline?

elastic
inelastic

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the demand elasticity for pizza?

inelastic
elastic

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