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of 13 available terms

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5 Written Questions

4 Multiple Choice Questions

  1. a decrease in the price of a good leads to an increase in the demand for its complementary good.
  2. indicates movement along the same demand curve to a lower or higher price and quantity demanded.
  3. the power that a good or service has to satisfy a want
  4. if a price change DOES NOT result in a substantial change in quantity demanded. EX: sugar, milk, salt

4 True/False Questions

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


  2. demand curvea listing that shows the various quantities demanded of a particular product at all prices that might prevail in the market at a given time


  3. marginal utilityamount of additional satisfaction


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


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