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Duplicate of Demand Flashcards | StudBud
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Duplicate of Demand
Duplicate of Demand
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StudBud Administration
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24 plays
A quiz to review about the basics of demand in economics.
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
A ___ in the price, causes a(n) ___ in demand.
decrease, increase
decrease, decrease
increase, decrease
increase, increase
2
Prices and Demand are represented in...
parent graphs
demand curves
money
stocks
3
When more consumers enter the market, market demand ___.
increases
decreases
4
A change in expectations affects individual demand schedules.
False
True
5
An example of an elastic good is...
Medical Services
Medications
Gasoline
6
The ___ the cost, the ___ units will be bought.
higher, more
lower, more
7
The demand price that buyers are willing to pay for one unit is...
Money
Profit
Marginal Utility
Supplier's Price
8
The term ___ is used to describe demand economics
goods
supply
profit
law
