WorksheetsFactors that Impact Demand
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
With respect to demand, "income" refers to:
a)
The amount of money buyers have to spend
b)
The amount of money producers have to produce
c)
The revenue producers make from selling goods/services
d)
An invitation to enter a business to buy things
2.
Which of the following is NOT a factor that influences demand?
- Economic Corruption
- Consumer Expectations
- Income Effect
- Market Size
- Prices of substitute goods
- Consumer Tastes and preferences
- Economic Corruption
- Consumer Expectations
- Income Effect
- Market Size
- Prices of substitute goods
- Consumer Tastes and preferences
a)
Income
b)
Prices of substitute goods
c)
Economic Corruption
d)
Tastes and preferences
3.
"Substitute goods" refer to:
a)
Skilled teachers who fill in for sick or absent classroom teachers
b)
Competing brands that cost the same
c)
Similar products that cost less
d)
Products you need to use other products (ex: charger cable > cell phone)
4.
"Complement goods" are...
a)
Things that make people feel better about themselves (ex: perfume, plastic surgery)
b)
Similar goods that cost less money
c)
A brand you can buy at any Sobeys store
d)
Products you need to use other products (ex: charger cable > cell phone)
5.
With respect to demand, "consumer expectations" refers to...
a)
consumer behaviour in anticipation of price changes
b)
the level of quality people associate with a brand
c)
how well your parents want you to do in school
d)
A classic novel by Charles Dickens
("Great Expectations)
("Great Expectations)
6.
In economics, "Tastes and preferences" refers to:
a)
Physical/personality attributes people specify in dating apps like Tinder
b)
Knowing which flavours people like to maximize the sale of food items
c)
Trends in consumer attitudes that influence what goods are produced
d)
Software settings you can manage in each app on your Macintosh computer
7.
With respect to demand, "Market Size" refers to:
a)
How many people live in a country, region, city, etc.
b)
The number of people with income who form the market for a product
c)
How many people are left in the world after you unleash your virus in the game "Plague, Inc"
8.
Changes in demand are largely driven by:
a)
Long haul truck drivers and train conductors, who transport goods
b)
Governments, who tell people what and what not to buy
c)
Consumers, whose ideas and choices influence the market for products
d)
Random factors that are hard to account for
9.
Having to buy toothpaste to use with your toothbrush is an example of....
a)
Substitute Goods
b)
Complementary Goods
c)
Income
d)
Alternative Products
10.
When you go to Kwik Trip and purchase a bag of Urge BBQ chips instead of the Frito Lay's BBQ chips, that is an example of:
a)
Substitute Goods
b)
Complementary Goods
c)
Alternative Products
d)
Purchasing Power
11.
If you received a pay raise at your job, that would be an example of __________________.
a)
Income Effect
b)
Outcome Effect
c)
Substitute Goods
d)
Market Size
12.
The fact that I prefer an Android device over an Apple devices is an example of _______________.
a)
Consumer Taste/Preferences
b)
Complimentary Goods
c)
Market size
d)
Substitute Goods
100 %
