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Demand Revised Flashcards | StudBud
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Demand Revised
Demand Revised
11 terms
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StudBud Administration
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An economics quiz to review the basics of demand
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
The principle that says that people will buy more at lower prices and buy less at higher prices.
the law of quantity demanded
the law of demand
the price law
the demand effect
2
If the price increases, it is shown by
Shifting the curve to the right
Moving up the existing curve
Moving down the existing curve
Shifting the curve to the left
3
When we demonstrate demand in the form of a table it is known as a ......
Demand Schedule
Demand Curve
Demand Thing
Demand Table
4
If prices rise, consumer's purchasing power is ......
diminished
enhanced
not impacted
5
Quantity Demanded is .......
a specific amount people will buy at a specific price.
a list showing how many people will buy at various prices.
6
The vertical axis of a graph showing demand is labeled .......
Units
Price
Quantity Demanded
Quantity
7
When we demonstrate demand in the form of a graph it is known as a ......
Demand Schedule
Demand Table
Demand Thing
Demand Curve
8
This diagram shows .....
a decrease in quantity demanded
an increase in demand
an increase in quantity demanded
a decrease in demand
9
The horizontal axis of a graph showing demand is labeled ......
Demand
Quantity
Price
10
Demand curves slope in this direction
Downward to the Right
Downward to the Left
Upward to the Right
Upward to the Left
11
Demand is...
A specific amount people will by at a specific price.
The amount consumers are willing and able to buy at all prices.
