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Demand
Demand
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StudBud Administration
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Demand Quiz
Flashcards
8 cards
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Questions
8
Answers
1
The amount of money a company makes from selling it's goods is known as
profit
fianancial gain
total revenue
GDP
2
Goods that are used in place of one another are referred to as these types of goods
complementary
inelastic
elastic
substitute
3
Which of the following is an example of a good with elastic demand?
cheeseburger
water
electricity
life saving medication
4
The axis on a demand curve are labeled with the following two terms
price and supply
demand and profit
supply and demand
price and quantity demanded
5
According to the law of demand, as price increases quantity demanded...
Increases
Stays the Same
All of the above
Decreases
6
If you keep buying despite a price increase than your demand is
strong
inelastic
elastic
normal
7
The graphical representation of quantities demanded at each price by consumers
Demand Curve
Demand Schedule
Supply Curve
Market Demand Schedule
8
Which of the following are not complementary goods
snowboard and boots
beef and pork
iPhone and Charger
bbq and charcoal
