Understanding the Theory of Demand
Flashcard
•
Social Studies
•
10th Grade
•
Hard
Vidhya Nair
FREE Resource
Student preview
30 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Law of Demand
Back
Price ↑, Quantity Demanded ↓
2.
FLASHCARD QUESTION
Front
Demand Curve
Back
Downward sloping
3.
FLASHCARD QUESTION
Front
Substitution Effect
Back
Price ↑, Substitute ↑
4.
FLASHCARD QUESTION
Front
Income Effect
Back
Price ↓, Real Income ↑
5.
FLASHCARD QUESTION
Front
Normal Goods
Back
Income ↑, Demand ↑
6.
FLASHCARD QUESTION
Front
Inferior Goods
Back
Income ↑, Demand ↓
7.
FLASHCARD QUESTION
Front
Giffen Goods
Back
Price ↑, Demand ↑
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