Demand

According to the law of demand, as price increases quanity demanded.....

• Increases

• Decreases

• Stays the Same

• All of the Above

The graphical representation of quantities demanded at each price by consumers....

• Demand Schedule

• Demand Curve

• Supply Curve

• Market Demand Schedule

Which of the following are not complementary goods?

• iPhone and Charger

• Snowboard and Boots

• Bbq and Charcoal

• Beef and Pork

Goods that are used in place of one another are referred to as these types of goods...

• Substitute

• Complementary

• Elastic

• Inelastic

The axis on a demand curve are labeled with the following two terms..

• Supply and Demand

• Price and Supply

• Price and Quantity Demanded

• Demand and Profit

What causes a change in quantity demanded?

• Change in Price

• Change in Price of a Substitute Good

• Change in Amount of Customers

• Change in Taste and Preference

When there is an increase of demand, what direction is the new demand curve drawn?

• Right

• Left

• Up

• Down

What does this curve represent?

• supply
• equilibrium
• demand
• surplus