Demand Curves

Which of the following best describes the Law of Demand?

• As price goes down, demand goes down. (and vice versa).
• As price goes down, demand goes up (and vice versa).
• As demand goes down, supply goes up.
• As demand goes up, price becomes elastic.

What goes on the horizontal axis (x axis) of a demand graph?

• price

• quantity demanded

• quantity supplied

• change in demand

Which of the following would NOT cause a demand curve to shift?

• a change in a consumer's income level
• a change in population
• a change in a consumer's expectations
• a change in the price of a product.

Price goes on ________

• the vertical axis
• the horizontal axis
• at the origin
• the z axis

The demand curve always slopes

• down and to the right
• straight up and down
• down and to the left
• up and to the right

Tags

CCSS.8.EE.B.5

A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in

• market size
• price of a substitute good
• price of a complementary good
• tastes and preferences 

The price of petrol/gas is expected to increase next week. Then today the demand for petrol/gas will

• increase
• decrease

Iceberg & romaine are two different types of lettuce. For most consumers, iceberg and romaine are 

• complements
• substitutes
• inferior goods
• resources

All of the following are examples of complements EXCEPT

• butter and margarine
• cameras and film
• peanut butter and jelly
• flashlights and batteries 

If suddenly, a large population increase occurred, what impact would it have on the housing market?

• prices would remain constant.
• There would be a surplus of homes on the market.
• It would shift the demand curve to the left.
• It would shift the demand curve to the right.