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4.1 Intro to Demand

Authored by Justin Beyersdorfer

Social Studies

9th - 12th Grade

4.1 Intro to Demand
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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does “demand” for a product refer to in economics?

Desire, ability, and willingness to pay
Simply wanting or wishing for it
Only being able to afford it
Just the ability to buy it
Having the product already

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must desire be coupled with for demand to be counted in the marketplace?

Ability and willingness to pay
Desire to have it
Willingness to own it
Ability to buy it without desire
Willingness to sell it

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who can compete with others who have similar demands in the marketplace?

Those with the desire, ability, and willingness to buy
Only those who desire the product
People who can afford it only
Those who are willing to pay
People who already own it

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does “microeconomics” focus on?

Behavior and decision making by individuals and firms
Global economic policies
Large-scale economic movements
Government actions in the market
Trade relations between countries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does microeconomics explain about prices?

How prices are determined
The prices set by governments
The average cost of products
The prices in international trade
The demand from other countries

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does microeconomics help explain about economic decisions?

How individual economic decisions are made
How businesses set regulations
The global economic strategies
The behavior of international firms
The pricing of multinational goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which unit of study is demand discussed?

Unit 2
Unit 1
Unit 3
Unit 5
Unit 4

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