WorksheetsOCR GCSE Economics - 2.2 - Demand
Total questions: 10
Worksheet time: 5mins
Which of these best describes the law of demand?
If prices go up, quantity demanded fall and if prices go down, quantity demanded will go up
If prices go up, quantity demanded will also go up and if prices go down, quantity demanded will also go down
There is no law of demand, each situation is unique and demand and prices cannot be predicted
Prices will go up for certain goods when quantity demanded goes up and vice versa
The quantity demanded of a good or service changes at all price levels best describes the concept of
Change in quantity demanded
Elasticity
Change in demand
Demand curve
Which of the following will cause an increase in demand for snowboards?
More costly production methods
A decrease in the price of lift tickets at resorts in Colorado
A decrease in consumer income
A decrease in the population
A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in
Market size
Price of a substitute good
Price of a complementary good
Tastes and preferences
A recent scandal in which 1 million fake Chanel handbags have been discovered. There is an increase in Louis Vuitton handbags because of a change in:
Price of a complement
Price of a substitute
Tastes and preferences
Income
What factor could have caused the demand to decrease as shown above?
Incomes increased
Expectation that prices will increase
A decrease in the price of a substitute
Increase in market share
The downward slope of a demand curve
Represents the law of demand
Shows that as the price of a good rises, consumers increase the quantity they demand
Indicates how the quantity demanded changes when incomes rise and the good is a normal good
Indicates how demand changes when incomes rise and the good is a normal good
The phrase "a change in demand" most directly implies a
Movement along the curve
Movement along the price curve
Change in quantity demanded of a good
Shift in the demand curve
A change in the demand for apples could result from any of the following except
A change in the number of buyers
Increased preferences for fresh fruit consumption for health reasons
A change in the price of an apple
A change in the price of banana
Consider the market for mobile phones. Which of the following shifts the demand curve leftward?
Studies showing using mobile phones can cause brain cancer
A decrease in the price of mobile phones
A decrease in the quantity demanded of mobile phones
An increase in the services provided by mobile phones, such as text messaging
