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Chapter 4: Demand

14 Questions  I  By Slevaque
Chapter 4: Demand

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