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Mic3: Demand, Demand schedule/curve, Law of demand, Change in quantity demanded
By Jeffrey See
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Last updated over 4 years ago
5 Questions
Add This Formative
1
1.
If I am willing to buy a new iphone 11, but don't have enough income, am I considered part of the demand for iphone 11's?
It really doesn't matter
No
Yes
Absolutely
1
2.
What is the quantity demanded for fish sandwiches when the price is $.70?
250 sandwiches
500 sandwiches
400 sandwiches
350 sandwiches
1
3.
Which of the following is
true
of the demand schedule and demand curve above?
They contain different information using the same format
They contain different information using a different format
They contain the same information using the same format
They contain the same information using a different format
1
4.
The
law of demand
states the following.
As price decreases, consumers will buy less
As price increases, consumers will buy less
As price increases, consumers will buy more
As price increases, consumers will buy the same amount
1
5.
What would cause the
quantity demanded
of chocolate bars to increase from 200 to 400 bars?
The price decreased from $1.60 to $.80
The price increased from $.80 to $1.60
The price decreased from $2.00 to $1.60
The price increased from $.40 to $.80
