WorksheetsMarket Concepts Quiz
Total questions: 15
Worksheet time: 12mins
What is individual demand?
The total demand of all people
The demand for luxury goods
How many goods a single person is willing to buy
The demand for imported goods
Which of the following is NOT a component of demand?
Desire
Willingness
Ability
Production
What is the relationship between price and quantity demanded in a demand schedule?
Direct relationship
Inverse relationship
No relationship
Random relationship
At a price of $1.00, how many Frosties are demanded per day?
4
8
13
19
What does the term 'marginal utility' refer to?
The total utility of all units consumed.
The utility of the first unit consumed.
The utility of each additional unit consumed.
The utility of the last unit consumed.
What does the demand curve D1 indicate when DVDs cost $30 each?
Q3 units will be demanded.
Q1 units will be demanded.
Q2 units will be demanded.
No units will be demanded.
What happens to demand when the price of an item has a very big effect on the quantity demanded?
The demand is elastic.
The demand is inelastic.
The demand is constant.
The demand is unpredictable.
Which of the following is an example of a demand inelastic good?
Salt
Candy bars
Cars
Goods with substitutes
