The inverse relationship between price and quantity that describes what consumers will buy is
Unit 2 Econ Review

Flashcard
•
History
•
12th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

14 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
Law of Demand
2.
FLASHCARD QUESTION
Front
What is the substitution effect?
Back
When a consumer switches from one product to another due to a change in relative prices.
3.
FLASHCARD QUESTION
Front
Charlotte is more likely to purchase a similar product to her favorite snack because:
Back
It is less expensive
4.
FLASHCARD QUESTION
Front
When the price of a product increases, the demand for the product will DECREASE
Back
True
5.
FLASHCARD QUESTION
Front
Zoe, Kai, and Ethan are running a lemonade stand. As consumers' tastes change in favor of their lemonade, demand will shift to the
Back
Right
6.
FLASHCARD QUESTION
Front
Why is market equilibrium important to know?
Back
It allows people to know what the price of good or services will be.
7.
FLASHCARD QUESTION
Front
Which of the following is NOT a demand shifter? Options: Income of consumers, Increase in population, An increase in supply, Tastes and Preferences
Back
An increase in supply
Create a free account and access millions of resources
Similar Resources on Quizizz
11 questions
Supply and demand

Flashcard
•
12th Grade
10 questions
Chapter 6: Prices and Decision Making

Flashcard
•
12th Grade
10 questions
AP Macroeconomics Unit 1 Concept Flashcards

Flashcard
•
12th Grade
15 questions
Supply and Demand Review

Flashcard
•
12th Grade
10 questions
Supply and Demand

Flashcard
•
11th - 12th Grade
10 questions
Chapter 6: Supply and Demand

Flashcard
•
12th Grade
9 questions
Demand and Supply

Flashcard
•
12th Grade
9 questions
Supply and Demand

Flashcard
•
12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
20 questions
Math Review - Grade 6

Quiz
•
6th Grade
20 questions
math review

Quiz
•
4th Grade
5 questions
capitalization in sentences

Quiz
•
5th - 8th Grade
10 questions
Juneteenth History and Significance

Interactive video
•
5th - 8th Grade
15 questions
Adding and Subtracting Fractions

Quiz
•
5th Grade
10 questions
R2H Day One Internship Expectation Review Guidelines

Quiz
•
Professional Development
12 questions
Dividing Fractions

Quiz
•
6th Grade