Demand Economics Vocabulary

Demand Economics Vocabulary

12th Grade

10 Qs

quiz-placeholder

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Demand Economics Vocabulary

Demand Economics Vocabulary

Assessment

Quiz

Education, Other

12th Grade

Medium

Created by

Ramon Lopez

Used 52+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When prices go down, quantity demanded increases. When prices go up, quantity demanded decreases.

Law of Demand

Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A graph that shows how much of a good or service an individual will buy at each price.

demand curve

demand schedule

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A table showing how much of an item an individual is willing to purchase at each price.

substitution effect

income effect

demand curve

demand schedule

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The willingness to buy a good or service and the ability to pay for it.

Law of Demand

Demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Goods that consumers demand more of when their incomes rise.

Income Effect

normal goods

inferior goods

complements

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Goods that consumers demand less of when their incomes rise.

normal goods

inferior goods

substitutes

complements

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Goods and services that can be used in place of each other.

normal goods

inferior goods

substitutes

complements

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