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WorksheetsQuiz 1
Total questions: 10
Worksheet time: 4mins
Demand is the,
desire
want
interest
willingness to buy
Rice in price of a product will lead to the following change in demand. That is
No change
increase
decrease
fluctuate
Normally a demand curve will have the shape
Horizontal
Vertical
Downward sloping
Upward sloping
Which best describes a demand curve?
The quantity consumers would like to buy in an ideal world
The quantity consumers are willing to sel
The quantity consumers are willing and able to buy at each and every income all other things unchanged
The quantity consumers are willing and able to buy at each and every price all other things unchanged
The quantity demanded is
the amount of a good that consumers plan to purchase at a
particular price
independent of the price of the good.
always equal to the equilibrium quantity.
independent of consumers' buying plans
The law of demand implies that, other things remaining the same, as
the price of a cheeseburger rises, the quantity of cheeseburgers
demanded will increase.
the price of a cheeseburger rises, the quantity of cheeseburgers
demanded will decrease.
the demand for cheeseburgers increases, the price of a
cheeseburger will fall.
income increases, the quantity of cheeseburgers demanded will
increase.
Which of the following is consistent with the law of demand?
An increase in the price of a soda decreases the quantity of soda
demanded
An increase in the price of a tape increases the quantity of tapes
demanded
A decrease in the price of a gallon of milk decreases the quantity of
milk demanded.
A decrease in the price of juice does not change the quantity of
juice demanded
The law of demand implies that if nothing else changes, there is
a positive relationship between the price of a good and the
quantity demanded
an exponential relationship between the price of a good and the
quantity demanded.
a linear relationship between the price of a good and the quantity
demanded.
a negative relationship between the price of a good and the
quantity demanded
The law of demand implies that demand curves
shift rightward whenever the price rises
slope up.
slope down.
shift leftward whenever the price rises
Each point on the demand curve reflects
the lowestcost technology available to produce a good.
the highest price consumers are willing and able to pay for that
particular unit of a good
all the wants of a given household.
the highest price sellers will accept for all units they are producing.
