When the price of a good or service changes,

there is a movement along a given demand curve.

the supply curve shifts in the opposite direction.

the demand curve shifts in the opposite direction.

the demand curve shifts in the same direction.

A decrease in the price of a good would

increase the quantity demanded of the good.

increase the supply of the good.

give producers an incentive to produce more to keep profits from falling.

shift the supply curve for the good to the left.

Refer to Figure 4-1. The movement from point A to point B on the graph is caused by a(n)

decrease in the price of a substitute good.

Refer to Figure 4-1. It is apparent from the figure that the

demand for the good conforms to the law of demand.

demand for the good decreases as income increases.

The law of demand states that, other things equal, when the price of a good

falls, the quantity demanded of the good rises.

falls, the demand for the good rises.

rises, the quantity demanded of the good rises.

rises, the demand for the good falls.

The law of demand states that, other things equal, an increase in

price causes quantity demanded to decrease.

price causes quantity demanded to increase.

quantity demanded causes price to increase.

quantity demanded causes price to decrease.

Which of these statements best represents the law of demand?

When the price of a good decreases, buyers purchase more of the good.

When buyers’ tastes for a good increase, they purchase more of the good.

When income levels increase, buyers purchase more of most goods.

When buyers’ demands for a good increase, the price of the good increases.

A downward-sloping demand curve illustrates

that demand decreases over time.

the relationship between income and quantity demanded.

Which of the following demonstrates the law of demand?

Dave buys more donuts at $$0.25 per donut than at $$ 0.50 per donut, other things equal.

After Jon got a raise at work, he bought more pretzels at $1.50 per pretzel than he did before his raise.

Melissa buys fewer muffins at $$0.75 per muffin than at $$ 1 per muffin, other things equal.

Kendra buys fewer Snickers at $$0.60 per Snickers after the price of Milky Ways falls to $$ 0.50 per Milky Way.

The following table contains a monthly demand schedule for large, single-topping, carry-out pizzas. Price | Quantity Demanded $15 | A $20 | 25 If the law of demand applies to these pizzas, then A could be

All of the above could be correct.

Suppose that when the price of a 16 oz. to-go cup of gourmet coffee is $$4.25, students purchase 750 cups per day. If the price decreases to $$ 3.75 per cup, which of the following is the most likely outcome?

Students would purchase more than 750 cups per day.

Students would purchase fewer than 750 cups per day.

Student would continue to purchase 750 cups per day.

We do not have enough information to answer this question.

If the price of ice cream rose to $$30 per gallon, consumers would purchase fewer gallons of ice cream than if the price were $$ 4 per gallon. If the price of chocolate sauce fell to $$0.50 per can, consumers would purchase more chocolate sauce than if the price were $$ 5 per can. These relationships illustrate the

difference between normal and inferior goods.

difference between substitute and complement goods.

A demand schedule is a table that shows the relationship between

quantity demanded and quantity supplied.

The demand curve for a good is a line that relates

quantity demanded and quantity supplied.

The line that relates the price of a good and the quantity demanded of that good is called the demand

curve, and it usually slopes downward.

schedule, and it usually slopes upward.

schedule, and it usually slopes downward.

curve, and it usually slopes upward.

When drawing a demand curve,

price is measured along the vertical axis, and quantity demanded is measured along the horizontal axis.

demand is measured along the vertical axis, and price is measured along the horizontal axis.

quantity demanded is measured along the vertical axis, and price is measured along the horizontal axis.

price is measured along the vertical axis, and demand is measured along the horizontal axis.

When we move along a given demand curve,

all nonprice determinants of demand are held constant.

income and price are held constant.

all determinants of quantity demanded are held constant.

Once the demand curve for a product or service is drawn, it

can shift either rightward or leftward.

is possible to move along the curve, but the curve will not shift.

tends to become steeper over time.

If something happens to alter the quantity demanded at any given price, then

the demand curve becomes steeper.

the demand curve becomes flatter.

we move along the demand curve.

When quantity demanded decreases at every possible price, the demand curve has

not shifted; rather, we have moved along the demand curve to a new point on the same curve.

not shifted; rather, the demand curve has become flatter.

When quantity demanded increases at every possible price, the demand curve has

not shifted; rather, we have moved along the demand curve to a new point on the same curve.

not shifted; rather, the demand curve has become steeper.

The market demand curve

represents the sum of the quantities demanded by all the buyers at each price of the good.

is found by vertically adding the individual demand curves.

represents the sum of the prices that all the buyers are willing to pay for a given quantity of the good.

The market demand curve

is the sum of all individual demand curves.

is the demand curve for every product in an industry.

shows the average quantity demanded by individual demanders at each price.

is always flatter than an individual demand curve.

A market demand curve shows

how much of a good all buyers are willing and able to buy at each possible price.

the relationship between price and the number of buyers in a market.

how quantity demanded changes when the number of sellers changes.

the sum of all prices that individual buyers are willing and able to pay for each possible quantity of the good.

A market demand curve shows how the total quantity demanded of a good varies as

price of the nearest substitute good varies.

Demand Concepts Multiple Choice Questions 1-7

Authored by NGOC NGUYEN

Social Studies

11th Grade

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quantity demanded of a good is the amount that buyers are

willing to purchase.

willing and able to purchase.

willing, able, and need to purchase.

able to purchase.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in quantity demanded

results in a movement downward and to the right along a demand curve.

results in a movement upward and to the left along a demand curve.

shifts the demand curve to the left.

shifts the demand curve to the right.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decrease in quantity demanded

results in a movement downward and to the right along a demand curve.

results in a movement upward and to the left along a demand curve.

shifts the demand curve to the left.

shifts the demand curve to the right.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A movement upward and to the left along a demand curve is called a(n)

increase in demand.

decrease in demand.

decrease in quantity demanded.

increase in quantity demanded.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A movement downward and to the right along a demand curve is called a(n)

increase in demand.

decrease in demand.

decrease in quantity demanded.

increase in quantity demanded.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the price of a good will

increase demand.

decrease demand.

increase quantity demanded.

decrease quantity demanded.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decrease in the price of a good will

increase demand.

decrease demand.

increase quantity demanded.

decrease quantity demanded.

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Demand Concepts Multiple Choice Questions 1-7

The quantity demanded of a good is the amount that buyers are

An increase in quantity demanded

A decrease in quantity demanded

A movement upward and to the left along a demand curve is called a(n)

A movement downward and to the right along a demand curve is called a(n)

An increase in the price of a good will

A decrease in the price of a good will

When the price of a good or service changes,

A decrease in the price of a good would

Refer to Figure 4-1. The movement from point A to point B on the graph shows a(n)

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