WorksheetsLaw of Demand practice
Total questions: 13
Worksheet time: 7mins
What does a change in quantity demanded refer to?
A shift in the demand curve caused by changes in income
A movement along the supply curve
A movement along a fixed demand curve caused by a change in price
A change in the quantity supplied
What causes a change in demand?
A change in the quantity supplied
A movement along the demand curve
Shifters such as income, preferences, and changes in the price of related goods
A change in price
What can cause a shift in the demand curve?
A change in price alone
A change in quantity demanded
Changes in variables other than price or quantity
A movement along the supply curve
How is a change in income represented on a demand curve?
As a change in quantity supplied
As a change in price
As a shift in the entire demand curve
As a movement along the curve
What does a movement along a fixed demand curve indicate?
A shift in the supply curve
A change in demand
A change in income
A change in the quantity demanded
What is an easy way to remember the difference between a change in quantity demanded and a change in demand?
By focusing on changes in supply
By tracking changes in price and quantity
By memorizing the shifters of demand
By observing the supply curve
What represents a shift in the demand curve?
A movement along the supply curve
A change in price alone
A change in quantity demanded
A change in variables not measured on either axis
What terminology is used to describe a movement along a fixed demand curve?
A change in the price of related goods
A change in quantity demanded
A shift in the demand curve
A change in demand
The following happens: Tesla announces it will start selling self-driving vehicles in six months. What determinant of demand is this for the current car market?
change in income
change in population
change in expectations
The price of bagels increases. What happens to the demand curve of cream cheese? (they are often used together)
demand curve shifts left
demand curve shifts right
demand curve does not shift, but rather there is movement along the demand curve
An example of a substitute for coffee is ___________.
Tea
Sugar
Carrots
a straw
A change in the price of a good or service will result in a change in _____________.
Demand
Quantify Demanded
A change in consumer taste is an example of a change in ____________.
Demand
Quantity Demanded
