NAME

Question types


Start with


Question limit

of 13 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

4 Multiple choice questions

  1. Substitutes (goods)as price of substitute decreases, demand for the original item also decreases.
  2. desire to own a product.
  3. indicates movement along the same demand curve to a lower or higher price and quantity demanded.
  4. if a price change DOES NOT result in a substantial change in quantity demanded. EX: sugar, milk, salt

4 True/False questions

  1. law of demandindicates a shift in the entire demand curve to the right or left. (Right-increase.. left-decrease)

          

  2. Substitute effectif the price of one similar item rises in relation to the price of another, people will substitutes the lower priced item.

          

  3. demand schedulea graph showing the quantity demanded at each and every price that might prevail in the market.

          

  4. Elasticif a price change DOES NOT result in a substantial change in quantity demanded. EX: sugar, milk, salt

          

Create Set