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Chapter 4: Demand

14 Questions  I  By Slevaque
Chapter 4: Demand

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