Demand and Review T/F Quiz

Since choices must be made, some system for who gets to make these choices must be determined

Why are demand curves downsloping?

Lowering the P causing U 2 buy some doesn't mean U changed whether U wanted it in the 1st place

Demand, as opposed to Qd, is all about whether I want & can pay for a good or service at all

The central economic problem for everyone is the lack of enough money to buy all that you want.

Suppliers’ main goal is to make the goods & services that will make us happier in life

When the price changes, and I buy more, that's called a change in my

When I go to a store that’s having a sale on everything, it’s like my employer gave me a raise

If I substitute a cheap PB&J 4 a burger, I increased my Qd 4 it, but decreased my Dmd 4 burgers

People get the richest by selling in volume at the lowest price possible.

People get the richest by always charging high prices for their goods and services.

I can cause you to want some of my product just by lowering the price of it.

The problem of Scarcity means that we will have to make choices

All can determine a person's Demand EXCEPT

The only econ bad thing a rich person could do with their money is to hide it under a mattress