Economical Demand

6 Questions | Total Attempts: 58

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Demand Quizzes & Trivia

This short quiz serves as a test if you really understand the topic cause the answers in each question will be found in this chapter.


Questions and Answers
  • 1. 
    It is the amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price?
    • A. 

      Supply

    • B. 

      Demand

    • C. 

      Aggregate

  • 2. 
    A term used in economics to describe the total amount of goods or services that are demanded at any given point in time?
  • 3. 
    It is synonymous to "cross price elasticity of demand".  Cross elasticity of demand is synonomous to "cross price elasticity of demand". What is it?
  • 4. 
    The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by __________.
    • A. 

      Quantity demanded

    • B. 

      Cross elasticity of demand

    • C. 

      Aggregate-demand curve

  • 5. 
    The demand for necessities will increase with income, but at a __________ rate.
  • 6. 
    A fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.