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Market demand

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  • 1. Multiple-choice
    30 seconds
    2 pts

    Individual demand is the quantity of a good that......... would but at a specific price at specific point in time

    Consumers in country

    Small group

    Single consumer

    Entire consumers

  • 2. Multiple-choice
    30 seconds
    2 pts

    An increase in the price of a product will reduce the amount of it purchased because:

    Supply curves are upsloping

    The higher price means that real incomes have risen

    Consumers will substitute other products for the one whose price has risen

    Consumers substitute relatively high-priced for relatively low-priced product

  • 3. Multiple-choice
    30 seconds
    1 pt

    What is the demand schedule?

    A table show the rela between the price of a good and the quantity demanded

    A table showing the unlimited desires of consumers

    It is a schedule of when markets are open and closed

    A schedule that shows the demand for particular good in one location only

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