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5 Written questions

4 Multiple choice questions

  1. a graph showing the quantity demanded at each and every price that might prevail in the market.
  2. if a price change DOES NOT result in a substantial change in quantity demanded. EX: sugar, milk, salt
  3. a decrease in the price of a good leads to an increase in the demand for its complementary good.
  4. indicates a shift in the entire demand curve to the right or left. (Right-increase.. left-decrease)

4 True/False questions

  1. marginal utilitythe power that a good or service has to satisfy a want

          

  2. law of demanddesire to own a product.

          

  3. Change in quantity demandedindicates movement along the same demand curve to a lower or higher price and quantity demanded.

          

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

          

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