WorksheetsEconomy Activity (The Law Of Demand)
Total questions: 10
Worksheet time: 3mins
What determines the price of a good or service?
Demand only
Supply only
Supply and Demand
None of the above
Consumers are
people that sell goods and services.
people that buy goods and services.
people that consume food.
None of the above.
Demand means
the amount of a good or service that consumers are willing to buy.
is the amount of a good or service produced.
is the price that is demanded by consumers.
None of the above.
What does the law of demand say
consumers will buy less of something when the price goes down.
consumers will buy more of something when price increases.
consumers will buy more of something when prices decrease.
None of the above.
If the price of a good or service increases, what will happen to the demand for it?
increase.
decrease.
stay the same.
nobody knows.
In which way can demand be shown, with
a demand schedule chart.
a demand curve graph.
using the formula D + E = DE
A and B.
A factor that can change the amount demanded for a good would be
income
population
tastes
All of the above.
If a good becomes popular or fashionable, what will happen with the demand for the good?
Decrease
Stay the same
Increase
None of the Above
In regard to substitute goods, if the price of Sprite increases, what will happen with the demand for a substitute good like 7-UP?
Increase
Decrease
Stay the same
None of the Above
if demand for one complementary good like a printer decreases what would happen with the demand for ink cartridges?
Increase
Decrease
Stay the same
None of the Above
