A decrease in the price of a good X is expected to:

increase demand for its complement.

A decrease in a good's own price is expected to:

increase quantity demanded for the good.

An increase in a good's own price is expected to:

decrease quantity demanded for the good.

consumers are willing and able to buy at various given prices

Quantity demanded is how much:

consumers are willing and able to buy at a given price.

An increase in the price of a good X is expected to:

increase demand for its substitute.

A decrease in consumers' income is expected to:

increase demand for inferior goods.

An increase in demand is said to be seen as an:

increase in quantity demanded at every given price

A decrease in quantity demanded is seen

a movement up a fixed demand curve.

An increase in demand is seen as:

a shift of the demand curve to the right.

The Law of Demand states that the good's own price and:

its quantity demanded are inversely related.

An increase in quantity demanded for a good is seen as:

a movement down along a fixed demand curce.

If the price of a good X is expected to rise very soon, it is expected to:

increase demand for the product before price has increaed.

The Law of Demand is could be observed

as a movement up or down a fixed demand curve.

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The Theory of Demand

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Questions 20

Answers

1
A decrease in the price of a good X is expected to:
decrease quantity demanded for its substitute.
increase demand for its substitute.
increase demand for its complement.
decrease quantity demanded for its complement.
2
An increase in taste or preference for a good is expected to (for the same good):
decrease demand
increase quantity demanded
increase demand
decrease quantity demanded
3
A decrease in a good's own price is expected to:
decrease demand for the good.
increase demand for the good.
increase quantity demanded for the good.
decrease quantity demanded for the good.
4
An increase in a good's own price is expected to:
decrease demand for the good.
increase demand for the good.
increase quantity demanded for the good.
decrease quantity demanded for the good.
5
Demand is how much:
consumers are willing and able to buy at a given price.
consumers are willing to buy at various given prices
consumers are willing to buy at a given price
consumers are willing and able to buy at various given prices
6
Quantity demanded is how much:
consumers are willing and able to buy at various given prices
consumers are willing and able to buy at a given price.
consumers are willing to buy at various given prices
consumers are willing to buy at a given price
7
An increase in the price of a good X is expected to:
increase quantity demanded for its complement.
increase demand for its complement.
decrease quantity demanded for its substitute.
increase demand for its substitute.
8
A decrease in consumers' income is expected to:
decrease demand.
increase demand for all goods.
increase demand for normal goods
increase demand for inferior goods.
9
An increase in demand is said to be seen as an:
increase in quantity demanded at a given price
increase in quantity demanded at some given prices
increase in quantity demanded
increase in quantity demanded at every given price
10
A decrease in quantity demanded is seen
a shift to the left of the entire demand curve.
a movement up a fixed demand curve.
a movement down along a fixed demand curce.
a shift to the right of the entire demand curve.
11
An increase in demand is seen as:
a shift of the demand curve to the right.
a pivot of the demand curve outwards.
a shift of the demand curve to the left.
a pivot of the demand curve inwards.
12
The Law of Demand states that the good's own price and:
its demand are directly related.
its demand are inversely related.
its quantity demanded are directly related.
its quantity demanded are inversely related.
13
The law of Demand is a behavioral law.
True
False
14
Ceteris paribus mean that all other things are being held equal
False
True
15
An increase in quantity demanded for a good is seen as:
a movement down along a fixed demand curce.
a movement up a fixed demand curve.
a shift to the left of the entire demand curve.
a shift to the right of the entire demand curve.
16
As price increases, demand decreases.
True
False
17
If the price of a good X is expected to rise very soon, it is expected to:
increase demand for the product before price has increaed.
decrease demand for the product before price has increased.
decrease demand for the product after price has increased.
increase demand for the product after price has increased.
18
Ceteris paribus means some things are being held equal
False
True
19
The Law of Demand is could be observed
as demand curve shifting to the right
as a movement up or down a fixed demand curve.
as a movement up a fixed demand curve.
as demand curve shifting to the left.
20
The law of demand cannot be violated like the laws of Physics.
True
False

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