Demand
Quiz by Rachel Murat
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13 questions
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- Q1people buy more of a good at a lower pricelaw of demand30s
- Q2Consumer desire, willingness and ability to buy productsdemand30s
- Q3when consumers react to an increase in a good's price by consuming less of that good and more of other goodssubstitution effect30s
- Q4demand goes downwhen price goes up30s
- Q5demand goes upwhen price goes down30s
- Q6I bought Red Bull insteadthe price of Monster went up30s
- Q7the price went down to .99, so I bought 2 of themI usually by one cookie a day at $1.9930s
- Q8A good for which higher income increases demandnormal goods30s
- Q9are goods that consumers demand less of when their incomes riseinferior goods30s
- Q10the change in consumption resulting from a change in incomeincome effect30s
- Q11two goods that are bought and used togethercomplements30s
- Q12will cause a shift to the rightan increase in demand30s
- Q13will cause a shift to the lefta decrease in demand30s