Demand Check Up

Front

Fill in the blank: _______ refers to consumer willingness and ability to buy products.

Back

Demand

Front

Fill in the blank: The _______ states that consumers buy more of a good when its price decreases and less when its price increases.

Back

Law of Demand

Front

Fill in the blank: _______ is the amount of a good that buyers are willing and able to purchase.

Back

Quantity Demanded

Front

Fill in the blank: _______ are specific consumer events (other than price) that impact the market demand of products.

Back

Demand Shifters

Front

Demand Curve: Graph representation of the market that slopes _______ to mimic the law of demand.

Back

downward

Front

A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in tastes and preferences (popularity).

Back

tastes and preferences (popularity)

Front

Consider the market for SUVs. If the price of gasoline increases then the Demand for these vehicles will

Back

decrease

Front

Thousands of people leave a small town due to a factory closing down.  Sales at the local grocery store become slow. What causes this change?

Back

Population (Change in the number of buyers)

Front

The diagram represents a

Back

increase in demand

Front

Chevy is offering trucks at lower prices, people are buying more trucks because of

Back

change in demand due to a change in price.