Worksheets2.1: Demand
Total questions: 10
Worksheet time: 5mins
Which of these best describes the law of demand?
if prices go up, quantity demanded will 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
A change in the price of a good causes people to buy more or less of an item. This best describes the concept of
the demand curve
change in quantity demanded
change in demand
elasticity
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
A decrease in the average incomes of consumers will result in which of the following?
A decrease in the demand for goods and services
An increase in the demand for goods and services
A decrease in the supply of goods and services
An increase in the supply of goods and services
Jermac tired of eating fried chicken everyday.
increase in demand
decrease in demand
increase in supply
no changes in demand
Consider the market for cellular phones. Which of the following shifts the demand curve to the left?
studies showing using cellular phones can cause brain cancer
a decrease in the price of cellular phones
a decrease in the quantity demanded of cellular phones
an increase in the services provided by cellular phones, such as text messaging
The price of coffee increases and people switch to drinking tea. Coffee and tea are
Neutral goods
Substitute goods
Complementary goods
Normal goods
When the price of hot dogs decreases and the demand for hot dog buns increases, this explains the demand of
Complementary goods
Substitute goods
Capital goods
Consumer goods
A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in
Population
Price of a complementary good
Consumer tastes and preferences
Price of a substitute good
