The different quantities of a good/service that buyers are willing to purchase at various prices during a specific time.

When consumers tend to buy more goods as their income and increases this is called what?

The amount of flexibility in consumers' demand for a product.

Goods that people tend to buy more of as their wealth increases are called what?

Which of the following is an example of an inferior good?

Goods that people tend to buy less of as their wealth increases are called what?

What is the term for when all units of a good are the same as each other, such as gasoline?

Which of the following is an example of an inelastic product?

Which of the following is an example of an elastic product?

Which of the following is an example of an individual good?

Which of the following is an example of a public good?