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Mic3: Demand, Demand schedule/curve, Law of demand, Change in quantity demanded

Last updated about 6 years ago

5 questions

1

1

1

1

1

Question 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

Question 2

2.

What is the quantity demanded for fish sandwiches when the price is $.70?

250 sandwiches

500 sandwiches

400 sandwiches

350 sandwiches

Question 3

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

Question 4

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

Question 5

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