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Law of Demand Flashcards | StudBud

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Law of Demand

8 terms·StudBud Administration·2 plays

A Quiz designed to review the basics about the Law of Demand in high school economics.

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Questions 8

Answers

1
Chicken, Pork, and Beef are examples of what?
Substitutes
Complements
2
Milk and Cereal are an example of what?
Complements
Substitutes
3
A Car is an example of what type of good?
Normal
Inferior
4
This image is showing what type of Demand?
Inelastic
Elastic
5
Which of these does NOT effect Demand?
A Change in Technology
The Law of Diminishing Marginal Utility
The Income Effect
The Substitution Effect
6
This image is showing what kind of Demand?
Elastic
Inelastic
7
The Law of Demand has what kind of relationship?
It has no relationship
Inverse
It needs to get over its ex
Direct
8
A cup of ramen noodles is an example of what type of good?
Inferior
Normal