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Demand Determinants Part 1 Flashcards | StudBud
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Demand Determinants Part 1
Demand Determinants Part 1
13 terms
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StudBud Administration
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254 plays
Test of knowledge re determinants of demand & supply
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Which of these are classed as necessities?
MOBILE PHONE
BREAD
WATER
PETROL
2
Which are determinants of
Demand?
Price
Income levels
Government Subsidies
No. of Suppliers
3
Disposable income
is
YOUR MONTHLY PAY
True
False
4
Which cause a
shift in Demand curve
for
perfume
?
Marketing
Price
Price of AFTER SHAVE
Seasonality
5
Marshmallows and hot chocolate are:
Services
Complementary goods
Substitutes
Necessities
6
A change in
price
will cause the
demand curve
to
shift
True
False
7
An
increase
in
real incomes
will lead to ...
A decrease in demand for most products
An Increase in demand for most products
8
An increase in the number of weddings would ...
Increased Demand for Wedding cakes
Reduce demand for Champagne
Increased demand for Limousine hire
Be tragic
9
A
decrease
in the price of
butter
would most likely
decrease
the demand for:
bagels
margarine
Jam
Butter
10
Which are determinants of
Demand?
Price of Substitutes
Demographics
Technology
Changing Social Trends
11
Law of Demand:
More
is demanded at
higher
prices than
lower
prices:
True
False
12
If the price of hot chocolate
increases
,
Demand for hot chocolate decreases
Demand for TEA decreases
Demand for marshmallows increases
Demand for marshmallows decreases
13
Ceteris Paribus means?
All other things being equal
Seize the day
All other things being different
Live long and prosper
