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ECON_Chapter 4: Demand Exam

Quiz by Vasquez_BGHS

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35 questions
Show answers
  • Q1
    The desire to have some good or service and the ability to pay for it.
    Demand
    30s
  • Q2
    States that when the price of a good or service falls consumers buy more of it. As the price of a good or service increases consumers usually by last of it (inverse relationship).
    law of demand
    30s
  • Q3
    A table that shows how much of a good or service a individual consumer is willing and able to buy at each price in a market.
    demand schedule
    30s
  • Q4
    shows how much of a good or service all consumers are willing and able to buy at each price in a market.
    market demand schedule
    30s
  • Q5
    A graph that shows how much of a good or service and individual will buy at each price.
    demand curve
    30s

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