Lesson Quiz 4-2 Demand

DIRECTIONS: Matching Match each item with its description. 1. movement along the demand curve showing that a different quantity is purchased in response to a change in price

• change in demand

• change in quantity demanded

• complements

• income effect

• substitutes

portion of a change in quantity demanded caused by a change in a consumer’s income when the price of a product changes

• change in demand

• change in quantity demanded

• complements

• income effect

• substitutes

different amounts demanded at every price, causing the demand curve to shift to the left or the right

• change in demand

• change in quantity demanded

• complements

• income effect

• substitutes

DIRECTIONS: Matching Match each item with its description. 4. products related in such a way that an increase in the price of one increases the demand for the other

• change in demand

• change in quantity demanded

• complements

• income effect

• substitutes

products related in such a way that an increase in the price of one reduces the demand for the other

• change in demand

• change in quantity demanded

• complements

• income effect

• substitutes

A change in quantity demanded is represented by ______

• movement along the demand curve.

• a shift of the demand curve.

• substitution.

• complements.

What is the main cause of a change in quantity demanded?

• substitution

• changes in revenue

• change in price

• the income effect

What is the relationship between income and demand?

• A decrease in income increases demand.

• A decrease in price decreases income.

• An increase in price increases income.

• An increase in income increases demand.

Which of the following replaces a costly item with a less costly one?

• the substitution effect

• the income effect

• change in demand

• consumer taste

Which of the following pairs of goods are most likely to be considered substitutes?

• Coffee and tea

• Bread and butter

• Cars and gasoline

• Printers and ink cartridges

Tags

DOK Level 2: Skill/Concept