Elasticity of Demand

A complement example would be all except

• butter and margarine 
• peanut-butter and jelly
• flashlight and batteries 
• cameras and film 

When replacing a certain item with with a less costly item is an example of

• the substitution effect 
• the income effect 
• demand elasticity 
• complements 

An increase in the number of consumers can cause 

• the demand curve to shift left
• the demand curve to shift right 
• the demand curve to shift up
• diminishing returns 

when consumers have a need for a product that is urgent 

• the demand curve is inelastic 
• the demand curve is elastic 
• the demand curve is complementary 
• the demand curve is unit demand 

A graph showing the quantity demanded 

• demand curve
• marginal utility 
• demand 

The desire, ability and willingness to buy a product 

• Demand 
• Supply 
• Consume 

Products that tend to be used together 

• complements 
• substitutes
• goods
• needs 

Describes very little a change in demand with a large change in price 

• elastic 
• inelastic 
• demand curve 
• price 

Products that can be used in a place of other products 

• substitutes 
• goods 
• substitution effect 

Change in quantity demanded due to a change in price that alters a consumers real income 

• elasticity 
• inelastic 
• income effect 
• total expenditures