ECONOMICS QUESTIONS AND GRADED ANSWERS, 100%
GUARANTEE
The law of demand applies most directly to which group?
buyers
sellers
producers
lawmakers - Buyers
According to the law of demand, as prices decrease, the quantity demanded
decreases.
increases.
stays the same.
disappears. - Increases
Which best describes a reason that consumer demand can change?
loss of income
loss of supply
,distribution problems
market problems - Loss of income
A demand curve shows how changes in
consumer demand affects income.
prices affect the consumer demand.
prices affect complementary goods.
consumer demand affects substitute goods. - Prices affect the consumer demand.
Products whose demand rises when another product's price increases are called
substitute goods.
complementary goods.
elastic goods.
clearance goods. - Substitute goods.
Consumers create demand for
goods and services.
, sales and low prices.
goods and income.
services and low prices. - Goods and services.
Which best summarizes how consumer demand changes?
Consumer demand changes over time based on few factors.
Consumer demand changes often based on many factors.
Consumer demand changes over time based on specific factors.
Consumer demand changes often based on few factors. - Consumer demand changes often
based on many factors.
Maria purchases a premium brand of coffee at the grocery store for $8. Which would be
considered a substitute good?
a coffee pot
a bottle of coffee creamer
a lower-priced brand of coffee
a pound of sugar - A lower-priced brand of coffee
GUARANTEE
The law of demand applies most directly to which group?
buyers
sellers
producers
lawmakers - Buyers
According to the law of demand, as prices decrease, the quantity demanded
decreases.
increases.
stays the same.
disappears. - Increases
Which best describes a reason that consumer demand can change?
loss of income
loss of supply
,distribution problems
market problems - Loss of income
A demand curve shows how changes in
consumer demand affects income.
prices affect the consumer demand.
prices affect complementary goods.
consumer demand affects substitute goods. - Prices affect the consumer demand.
Products whose demand rises when another product's price increases are called
substitute goods.
complementary goods.
elastic goods.
clearance goods. - Substitute goods.
Consumers create demand for
goods and services.
, sales and low prices.
goods and income.
services and low prices. - Goods and services.
Which best summarizes how consumer demand changes?
Consumer demand changes over time based on few factors.
Consumer demand changes often based on many factors.
Consumer demand changes over time based on specific factors.
Consumer demand changes often based on few factors. - Consumer demand changes often
based on many factors.
Maria purchases a premium brand of coffee at the grocery store for $8. Which would be
considered a substitute good?
a coffee pot
a bottle of coffee creamer
a lower-priced brand of coffee
a pound of sugar - A lower-priced brand of coffee
