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Demand Quiz
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First Name
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Period
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Period 1
Period 2
Period 3
Period 4
Period 5
The law of demand states that
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(remember the difference between QD and D)
1 point
the quantity demanded of a product will fall when the price of the product falls.
the quantity demanded of a product will fall when the price of the product rises.
when the demand for a product falls, so will its price.
when the demand for a product falls, its price will rise.
a product’s price and the quantity demanded of that product are positively relates.
If lettuce and salad dressing are complementary goods, then an increase in the price of lettuce will result in
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1 point
a decrease in the demand for salad dressing.
a decrease in the demand for lettuce.
an increase in the demand for salad dressing
a decrease in the quantity of salad dressing demanded, but no change in the demand for salad dressing.
Which of the following will not cause the demand curve for athletic shoes to shift?
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(remember the shifters and what price of the product does)
1 point
A change in tastes for athletic shoes
Widespread advertising campaign for athletic shoes
Increase in money incomes of athletic- shoe consumers
A decrease in the price of athletic shoes
Which graph below illustrates widespread advertising campaign for athletic shoes
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1 point
Graph 3
Graph 4
Athletic Shoes
Which graph above illustrates expectations that the price of athletic shoes will decrease in the future (think about what would happen now)
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1 point
Graph A
Graph B
If hot dogs are an inferior good, an increase in income will result in
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1 point
an increase in the quantity demanded for hot dogs.
no change in the quantity demanded for hot dogs.
an increase in the demand for hot dogs.
a decrease in the quantity demanded for hot dogs.
a decrease in the demand for hot dogs.
A and B are substitutes if:
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1 point
an increase in the price of A leads to a decrease in the demand for B.
an increase in the price of A leads to an increase in the demand for B.
an increase in the price of A leads to an increase in the supply of B.
a decrease in the price of A leads to an increase in the demand for B.
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