Chapter 4: Demand

14 Questions  I  By Slevaque

  
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1.  A change in quantity demanded is
A.
B.
C.
D.
2.  The availability of substitutes
A.
B.
C.
D.
3.  The demand for necessities
A.
B.
C.
D.
4.  Consumers' expectations about the price of a good or service will often
A.
B.
C.
D.
5.  Demand for a product is inelastic when
A.
B.
C.
D.
6.  Three factors that can cause a change in demand are
A.
B.
C.
D.
7.  Which of the following is an example of demand?
A.
B.
C.
D.
8.  Why does a market demand curve show larger quantities than an individual demand curve?
A.
B.
C.
D.
9.  What is the substitution effect?
A.
B.
C.
D.
10.  When the price of a good or service goes up, your demand will probably
A.
B.
C.
D.
11.  The law of demand states that 
A.
B.
C.
D.
12.  Economists measure elasticity of demand by
A.
B.
C.
D.
13.  What happens when the income of consumers rises?
A.
B.
C.
D.
14.  A market demand schedule shows
A.
B.
C.
D.
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