Chapter 4: Demand

14 Questions  I  By Slevaque

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