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Chapter 4: Demand

14 Questions  I  By Slevaque
Chapter 4: Demand

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