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demand topic quiz
reasons why demand curve is negatively sloped
benefits of studying economics
demand topic quiz
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Answers
1
benefits of studying economics
help Decision-Making
Critical Thinking
Entrepreneurship
Career Opportunities
2
reasons why demand curve is negatively sloped
Substitute changes
Income
change in price
future changes
3
categories of elasticity of demand
perfctly elastic demand
inelastic demand
perfectly elasticity
cross elasticity
4
demand refers to the quantity of a good or service that consumers are willing and able to supply at given price
True
False
5
income elasticity and inelastic demand are types of elasticity of demand
False
True
6
Lack of Product Differentiation and
Lack of Consumer Choice
are DISADVANTAGES OF perfectly competitive market
False
True
