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Worksheets

Changes in Demand

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

A computer company launches a new computer laptop.

a)

Number of Consumers

b)

Consumer Income

c)

Substitutes

d)

Consumer Expectations

2.

The demand for ketchup and ketchup go up.

a)

Compliments

b)

Consumer Expectations

c)

Substitute

d)

Consumer Income

3.

The demand for milk and cookies goes down.

a)

Consumer Expectations

b)

Compliments

c)

Substitutes

d)

Consumer Income

4.

A new professional soccer team is coming to Fresno.

a)

Number of Consumers

b)

Expectations

c)

Substitutes

d)

Consumer Income

5.

You just got a new promotion at work and are able to buy more shoes.

a)

Number of Consumers

b)

Consumer Income

c)

Consumer Expectations

d)

Substitute

6.

This effect means that as prices drop, consumers are left with extra real income.

a)

Substitution Effect

b)

Income Effect

c)

Consumer Effect

d)

Economic Effect

7.

This effect means that price can cause consumers to substitute one product with another similar product.

a)

Income Effect

b)

Consumer Effect

c)

Demand Effect

d)

Substitution Effect

8.

This economic term is used to describe the amount of usefulness or satisfaction.

a)

Uselessness

b)

Unpredictability

c)

Utility

d)

Product Satisfaction

9.

This term is used to describe the extra usefulness or satisfaction a person gets from acquiring or using one more unit of a product.

a)

Marginal Utility

b)

Income Utility

c)

Unit Utility

d)

Unit Satisfaction

10.

This concept is used to describe the decrease in satisfaction we get from using additional quantities of products.

a)

Marginal Utility

b)

Lower Satisfaction Utility

c)

Diminishing Marginal Utility

d)

Increase Marginal Utility

11.

The Law of Demand states that as prices go up, quantity demanded goes...

a)

Down

b)

Up

c)

Remains Constant

12.

In a demand curve, an increase in demand will cause the curve to shift...

a)

Right

b)

Remain Constant

c)

Down

d)

Left

13.

In a Demand curve, a decrease in demand will cause the curve to shift ...

a)

Remain Constant

b)

Down

c)

Up

d)

Left

14.

In order for demand to be counted it must have these three factors.

a)

Desire, want, and ability

b)

Desire, need, and willingness

c)

Need, want, and ability

d)

Desire, ability, and willingness

15.

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.

a)

Macroeconomics

b)

Semi-Economics

c)

Ultra-Economics

d)

Microeconomics