Econ 3.2: Shifts in Demand – 9th Grade Worksheet

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). The Latin phrase that means "all other things held constant" is:

• ceteris paribus

• habeas corpus

• pro bono

• carpe diem

Fill in the Blank: A movement along the demand curve happens when only the _ changes.

• price

• income

• taste

• population

If consumers expect higher prices in the future, the demand curve will _.

• increase

• decrease

• remain unchanged

• shift to the left

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). An increase in population usually causes the demand curve to shift to the _.

• right

• left

• center

• bottom

Fill in the Blank: A _ good is used together with another good, like peanut butter and jelly.

• complements

• substitute

• inferior

• normal

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). What does "ceteris paribus" mean in economics?

• a) Prices are always constant

• b) All other things are held constant

• c) Demand never changes

• d) Only supply can shift

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). If the price of a product increases and nothing else changes, what happens on the demand curve?

• The curve shifts right

• The curve shifts left

• There is movement up along the curve

• There is movement down along the curve

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). Which of the following is NOT a non-price determinant (shifter) of demand?

• Consumer income

• Consumer preferences

• The price of the product itself

• Population

Understanding how and why the demand for goods and services changes is a key part of economics. The demand curve shows the relationship between the price of a product and how much people want to buy, assuming all other factors stay the same (this is called "ceteris paribus"). However, when things like consumer income, expectations, population, or the prices of related goods change, the entire demand curve can shift. It's important to know the difference between a movement along the demand curve (caused only by a change in price) and a shift in the demand curve (caused by other factors). If a new trend makes a product more popular, what happens to the demand curve?

• It shifts left

• It shifts right

• It stays the same

• It disappears

When the price of a substitute good rises, the demand for the original good will likely:

• Decrease

• Stay the same

• Increase

• Disappear