NAME: ________________________

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5 Written Questions

4 Multiple Choice Questions

  1. a listing that shows the various quantities demanded of a particular product at all prices that might prevail in the market at a given time
  2. a decrease in the price of a good leads to an increase in the demand for its complementary good.
  3. the power that a good or service has to satisfy a want
  4. as the price of a good or service falls, a larger quantity will be bought; as the price of the good or service rises a smaller quantity will be bought.

4 True/False Questions

  1. demanddesire to own a product.

          

  2. marginal utilityamount of additional satisfaction

          

  3. demand curvedesire to own a product.

          

  4. SubstitutesSubstitutes (goods)as price of substitute decreases, demand for the original item also decreases.

          

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