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AS Micro Economics: Demand Basics Flashcards | StudBud
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AS Micro Economics: Demand Basics
AS Micro Economics: Demand Basics
6 terms
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#demandcurve #NCLorangesheet
Flashcards
6 cards
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Practice quiz
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Questions
6
Answers
1
What would cause demand for petrol by private motorists to decrease?
a fall in the price of cars
a rise in income
a rise in the size of the population
a fall in bus and train fares
2
The demand curve for a normal good will shift to the right if:
The price of the good falls
There is a decline in incomes
The price of a substitute increases
A rival product becomes more popular
3
Price falls from PM to PC. Which letters represent the INCREASE in consumer surplus?
A+B
A+B+D
C+E
B+D
4
Which of the following would result in a contract of demand for strawberries?
A rise in the price of strawberries
5
What is the relationship between price and demand in a typical demand schedule?
direct
inverse
proportional
unrelated
6
The only cause of a movement along a demand curve for a product is a change in....
the size of the population
consumers' tastes
consumers' income
the price of the product
