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Chapter 4: Demand

14 Questions  I  By Slevaque
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Chapter 4: Demand

  
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Question Excerpt

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