What does 'able to buy' imply in the context of demand?

Demand Dynamics: Exploring Key Concepts and Influences in Business and Economics

Interactive Video
•
Business, Economics, Social Studies
•
6th - 8th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumers have the desire to purchase goods.
Consumers have the knowledge to purchase goods.
Consumers have the time to purchase goods.
Consumers have the financial means to purchase goods.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor is NOT a determinant of demand?
Price of the product
Price of substitute goods
Consumer income
Weather conditions
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does an increase in consumer income generally affect demand?
Demand decreases
Demand remains unchanged
Demand increases
Demand fluctuates randomly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the demand for a product if the price of its substitute increases?
Demand for the product becomes unpredictable
Demand for the product increases
Demand for the product remains the same
Demand for the product decreases
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the law of demand, what happens when the price of a product falls?
Demand remains constant
Demand increases
Demand becomes volatile
Demand decreases
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which assumption is NOT part of the law of demand?
No change in consumer income
No change in consumer preferences
No change in government policies
No change in the price of complementary goods
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of demand shows the relationship between demand for a commodity and the price of related goods?
Cross demand
Price demand
Joint demand
Income demand
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