ECON: Demand Intro
Interactive Video
•
Social Studies
•
11th Grade
•
Practice Problem
•
Medium
Amber Prange
Used 3+ times
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the law of demand state about the relationship between price and quantity demanded?
Inverse relationship: as price increases, quantity demanded decreases
Direct relationship: as price increases, quantity demanded also increases
Random relationship: changes in price may or may not affect quantity demanded
No relationship: changes in price do not affect quantity demanded
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What effect describes the behavior of consumers purchasing more of a product when its price decreases due to increased purchasing power?
Substitution effect
Income effect
Price effect
Utility effect
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a shifter of demand?
Cost of production
Number of consumers
Tastes and preferences
Consumer expectations
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of a complement good decreases, what happens to the demand for the related good?
It increases
It becomes unpredictable
It decreases
It stays the same
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between a change in demand and a change in quantity demanded?
There is no difference; both terms mean the same
Change in demand is caused by price changes, while change in quantity demanded is caused by shifters
Change in demand is caused by shifters, while change in quantity demanded is caused by price changes
Change in demand refers to movement along the curve, change in quantity demanded refers to shifts in the curve
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
Already have an account?
