WorksheetsDemand review w/ Khan academy
Total questions: 6
Worksheet time: 3mins
Meeps and Blops are two goods that are related to each other. When the price of Meeps goes down, the demand for Blops goes down.
Based only on the information given here, what kind of goods are Meeps and Blops?
substitutes
complements
inferior goods
superior goods
normal goods
As a result of an increase in consumer incomes, the demand for Meeps has decreased.
Based on this information, what can we definitely say about what type of good a Meep is?
It has many substitutes.
It is a normal good.
It is a substitute good.
It is an inferior good.
It is a complement good.
Penny thinks that the price of books will decrease next week.
If everything else is equal, which of the following would reflect how Penny's behavior will change in response to her expectations?
Penny will move to a new, higher quantity on her demand curve
Penny will move to a new, lower quantity along her demand curve
Penny's demand for books today will decrease
Penny's demand for books today will increase
Penny will demand more complementary goods to books
All of the following will result in a shift in a demand curve except:
A change in the income of buyers
A change in the supply of a good
A change in expected future prices
A change in the price of related goods
A change in buyers' preferences
Economists have observed that when average incomes increase, purchases of fast food tends to decline.
Based on this information, what can we definitely say about fast food?
Demand for fast food is upward sloping
Fast food has no substitutes
The price of a complement to fast food has risen
Fast food is an inferior good
Fast food is a normal good
Pam considers t-shirts and gym classes to be complementary goods.
How will Pam react if the price of gym classes increases?
Her quantity demanded of gym classes will increase, and her demand for t-shirts will increase.
Her quantity demanded of gym classes won’t change, and her demand for t-shirts will increase.
Her quantity demanded of gym classes will decrease, and her demand for t-shirts will decrease.
Her quantity demanded of gym classes will decrease, and her demand for t-shirts will be unaffected.
Her quantity demanded of gym classes will increase, and her demand for t-shirts will decrease.
