NEW
Font size
WorksheetsChanges in Demand
Total questions: 15
Worksheet time: 8mins
A computer company launches a new computer laptop.
Number of Consumers
Consumer Income
Substitutes
Consumer Expectations
The demand for ketchup and ketchup go up.
Compliments
Consumer Expectations
Substitute
Consumer Income
The demand for milk and cookies goes down.
Consumer Expectations
Compliments
Substitutes
Consumer Income
A new professional soccer team is coming to Fresno.
Number of Consumers
Expectations
Substitutes
Consumer Income
You just got a new promotion at work and are able to buy more shoes.
Number of Consumers
Consumer Income
Consumer Expectations
Substitute
This effect means that as prices drop, consumers are left with extra real income.
Substitution Effect
Income Effect
Consumer Effect
Economic Effect
This effect means that price can cause consumers to substitute one product with another similar product.
Income Effect
Consumer Effect
Demand Effect
Substitution Effect
This economic term is used to describe the amount of usefulness or satisfaction.
Uselessness
Unpredictability
Utility
Product Satisfaction
This term is used to describe the extra usefulness or satisfaction a person gets from acquiring or using one more unit of a product.
Marginal Utility
Income Utility
Unit Utility
Unit Satisfaction
This concept is used to describe the decrease in satisfaction we get from using additional quantities of products.
Marginal Utility
Lower Satisfaction Utility
Diminishing Marginal Utility
Increase Marginal Utility
The Law of Demand states that as prices go up, quantity demanded goes...
Down
Up
Remains Constant
In a demand curve, an increase in demand will cause the curve to shift...
Right
Remain Constant
Down
Left
In a Demand curve, a decrease in demand will cause the curve to shift ...
Remain Constant
Down
Up
Left
In order for demand to be counted it must have these three factors.
Desire, want, and ability
Desire, need, and willingness
Need, want, and ability
Desire, ability, and willingness
This term is used to describe the area of economics that deals with behavior and decisions made by small units, such as individuals and companies.
Macroeconomics
Semi-Economics
Ultra-Economics
Microeconomics
