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Demand
Demand
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Questions
14
Answers
1
The government is giving everyone an extra $1000. In the market for laptops, what determinant of demand is this?
Expectations
Income
Taste and Preferences
Related goods.
2
The law of demand means that as price goes up, quantity demanded goes up as well.
False
True
3
Due to a hurricane destroying many houses in Cypress, people have moved away. What happens to the demand for fast food?
Increase
Nothing Happens
Decrease
4
With an increase of immigration into the U.S, demand for milk has increased. What determinant is this?
Income
Expectations
Market Size
Taste and Preferences
5
The price of Coke has increased significantly. In reponse, the demand for Pepsi has increased. What determinant is this?
Taste and Preferences
Expectations of Consumers
Complementary Goods
Substitute Goods
6
If I know the iPhone 15 is going on sale later, I will wait to buy the iPhone 15. What determinant is this?
Income
Expectation of Consumers
Complimentary Goods
Taste and Preferences
7
A new study shows that chocolate bars are super healthy! The demand for chocolate has increased due to a change in...
Related Goods
Market Size
Expectations of Consumers
Taste and Preferences
8
Oreos are now suddenly expensive. Instead of oreos, I want to buy Chips Ahoy cookies. What demand determinant is this?
Taste and Preferences
Complementary goods
Expectations of Consumers
Substituted Goods
9
When the Big Mac is on sale, demand for McDonald's fries also goes up. What determinant is this?
Taste and Preference
Market Size
Complementary Goods
Substitute Goods
10
If Mr. Tran gets a raise at his job, what happens to his demand for eating out at restaurants?
Decreases
Nothing happens
Increases
11
If the price of an Xbox goes up, what happens to the demand for the Playstation 5?
Nothing Happens
Decrease
Increase
12
If demand increases, which way does the demand curve shift?
Left
Up
Down
Right
13
If Black Friday was next month , the demand for a TV would increase right now.
True
False
14
If the price of iPhones goes up, what happens to the demand for iPhone cases?
Decrease
Increase
Does nothing