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Chapter 4: Demand

14 Questions  I  By Slevaque
Chapter 4: Demand

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