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Demand Flashcards | StudBud

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Demand

10 terms·StudBud Administration·465 plays

An economics quiz to review the basics of demand

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Questions 10

Answers

1
A Demand curve slopes in this direction
Upward
Downward
Vertical
Horizontal
2
Which of the following describes the Law of Demand?
Demand is important to analyze
P & Q are inversely related
P & Q are directly related
P & Q are not related
3
This diagram shows .....
an increase in quantity demanded
a decrease in demand
an increase in demand
a decrease in quantity demanded
4
If a factor other than price causes an increase in demand, it is shown by ......
Movement along the curve
A shift of the curve to the left
A shift of the curve to the right
5
Goods that are used along with other goods are known as .......
Consumer Goods
Complements
Substitutes
6
When we demonstrate demand in the form of a table it is known as a ......
Demand Schedule
Demand Table
Demand Curve
Demand Thing
7
This diagram shows .....
a decrease in demand
an increase in demand
an increase in quantity demanded
a decrease in quantity demanded
8
Demand is the .......
Ability to buy a product
Willingness to buy a product
All of the above
Desire to buy a product
9
Goods that can be used in place of other goods are known as .......
Complements
Consumer Goods
Substitutes
10
If price causes a change in quantity demanded, it is shown by ......
Shifting the curve to the right
Movement along the curve
Shifting the curve to the left