Demand

The price consumers pay are determined by

• chance.
• producers.
• markets.
• advertising.

A market is any place

• where buyers and sellers meet.
• where only sellers offer goods for sale.
• with a sign designating a store.
• where fruits and vegetables are sold.

In economics, demand means

• willingness and desire to buy a good.
• willingness and ability to buy a good.
• ability to buy a good.
• willingness to buy a good.

Demand curves

• slope upward from left to right.
• slope downward from left to right.
• show a positive relationship.
• slope downward from right to left.

Which of the following could increase demand for a good?

• higher birthrate
• increased immigration
• higher prices in the future
• All of the above

A shift of the demand curve represents

• a movement on the demand curve.
• a change in the quantity demanded.
• a change in demand.
• All of the above

Who determines whether a good is normal or inferior?

• individuals
• sellers
• government
• All of the above

If demand for a good is elastic and its price decreases, total revenue

• goes up.
• goes down.
• remains the same.
• cannot be produced.

What will happen in the car market if consumers expect higher prices in the near future?

• The demand for cars will decrease.
• The demand for cars will increase.
• The supply of cars will drop.
• The demand for cars will not change.

If the number of buyers in the market increases, which of the following will happen?

• The supply in the market will increase.
• The demand in the market will decrease.
• The demand in the market will increase.
• The supply in the market will decrease.