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Demand Quiz 25 (25 MCQs)

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1. Which of the following will cause a decrease in demand for Chevy trucks?
2. Which of the following would not cause as shift in demand?
3. Having a worker focus on a particular aspect of production
4. What is a complimentary good for chips?
5. Price and demand are positively correlated in case of:
6. Celebrities everywhere start wearing athleisure. What happens to the market for athleisure?
7. The Law of Demand says that price and quantity have a(n)
8. A gallon of paint and a paint brush would be examples of:
9. Which of the following pairs is an example of substitutes?
10. The law of demand argues that as prices for a good or service goes down then-
11. Supply depends on the willingness and ability of
12. Change in quantity demanded because of a change in price that alters consumers' real income.
13. Why does demand generally become more elastic over time?
14. The non-price factors that shift the demand curve to the right or left.
15. The effect that increasing or decreasing prices has on the buying power of a person is better known as _____
16. What would change the quantity demanded?
17. Definition of Marginal Utility
18. Which of these is neither a good nor a service?
19. When the price of Product A increases, the quantity demanded for Product A _____ ?
20. A decrease in the quantity supplied is represented by a
21. Inferior goods are those for which demand increases as
22. A surplus happens when
23. A shift to the right of the demand results in an
24. This determinant of demand describes the tendency of consumers to exchange a similar, lower-priced product for another product that is relatively more expensive.
25. Demand can be changed by
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