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WorksheetsShifting Demand
Total questions: 18
Worksheet time: 9mins
What are factors (besides price) that determine demand
income, prices of related goods, demand curve
consumer taste, market size, decisions by businesses
demand curve, market size, income
market size, income, consumer taste/style
As income rises...
demand decreases
demand increases
demand is unchanged
demand fluctuates
Which of these is NOT a factor that affects market size?
consumer expectations
income
diminishing marginal utility
government policy
If the price of milk is increasing, you may go buy almond milk instead. What is this?
diminishing marginal utility
income effect
substitute goods
government intervention
Paint is on sale, so you decide to paint the house. You also have to buy paint brushes, drop cloths and buckets. What are these?
substitute goods
increased market size
income effect
complimentary goods
A new band gets to perform on the Jimmy Kimmel show, so people become interested and download the band onto their Spotify playlist. What has happened?
market size decreased
market size increased
positive consumer expectations for the future
income effect
Demand curve shows level of consumer demand for a product. If there is an INCREASE in demand due to one of the demand shifters, what happens to the curve?
shift right
shift left
no change, it doesn't even matter
changes direction
When prices rise for a particular product, consumers will purchase lower-priced similar items..
income effect
substitute effect
diminishing marginal utility
law of demand
The basic problem of economics is ___.. we just don't have the resources to take care of ALL of our wants/needs!
opportunity cost
diminishing marginal utility
purchasing power
scarcity
A product may be amazing, but unless people can actually afford it, it's not really in deman.
True
False
As prices for a product decrease, demand for a product should increase..
diminishing marginal utility
elasticity
income effect
law of demand
The more of a product that you consume, the less satisfaction the consumer enjoys..
income effect
diminishing marginal utility
demand elasticity
purchasing power
The more money that a person makes, the more they are willing to spend..
diminishing marginal utility
substitute effect
total revenue
income effect
Which of the following factors affect a product's demand elasticity?
if the product is a necessity
if there are available substitutes
if an influencer features it on TikTok
people live near where the product is sold
If the demand curve shows the demand for plastic straws, and CA then outlaws straws, what happens to the demand curve
Nothing
shift to the right
shift to the left
it will then slope upward instead
The demand for a product becomes ELASTIC when a price change causes
an increase in demand
a decrease in demand
an increase in supply
a decrease in supply
The demand curve shows demand for coffee. If a scientific study shows that drinking coffee will lead to better health, what happens to the curve?
shift right
shift left
nothing
it will become vertical
Which of these are factors that would cause a SHIFT in the demand for a product?
gov't decisions
change in taste/preference/ style
surplus of supply
change in market size (more people are aware of the product)
