Demand

Front

If the demand for a good increases when people's incomes increase,

Back

the good is a normal good

Front

When the price of a product increases, a consumer is able to buy less of it. Which effect does this describe?

Back

Income Effect

Front

Consider the market for cellular phones. Which of the following shifts the demand curve to the left? studies showing using cellular phones can cause brain cancer, a decrease in the price of cellular phones, a decrease in the quantity demanded of cellular phones, an increase in the services provided by cellular phones, such as text messaging

Back

studies showing using cellular phones can cause brain cancer

Front

Which of these best describes the law of demand?

Back

if prices go up, quantity demanded will fall and if prices go down, quantity demanded will go up

Front

The graph represents which concept of demand? Options: Change in Price, Decrease in Demand, Change in Quantity Demand (Slide), Change in Demand (Shift)

Back

Change in Demand (Shift)

Front

The price of coffee increases and people switch to drinking tea. The determinant of demand is

Back

Price of Related Goods (Substitutes)

Front

Identify which determinant of demand (Shifter) is involved: Kohl's Black Friday sales are approaching.

Back

Consumer expectations

Front

What is the only factor that causes a change in quantity demanded along a demand curve?

Back

price

Front

When the price of hot dogs decreases and the demand for hot dog buns increases, this explains the demand of

Back

Complementary goods

Front

Goods for which demand goes down as income goes up are better known as

Back

Inferior Goods