4. The Demand Curve

What happens to the quantity demanded when prices drop during sales like Black Friday?

• Prices increase.

• Demand stays the same.

• People buy more.

• People buy less.

What is an example of a high-value use of oil?

• Producing gasoline

• Fueling jets

• Heating homes

• Making plastic toys

How does the demand for oil change as its price decreases?

• Demand becomes unpredictable.

• Demand stays constant.

• Demand increases.

• Demand decreases.

What might consumers do when oil prices rise?

• Take more road trips

• Buy more plastic products

• Ignore price changes

• Choose fuel-efficient cars

Who continues to demand oil even at high prices?

• Everyone

• Those who value oil the least

• Those who value oil the most

• No one