Civics Today: Citizenship, Economics, & You

Chapter 20: Demand

Demand

1
For demand to exist a consumer must __________.
A)have the desire to buy a good or service
B)have the money to buy a good or service
C)have the desire and willingness to buy a good or service
D)have the desire, willingness, and ability to buy a good or service
2
According to the law of demand, quantity demanded and price __________.
A)move in opposite directions
B)move in the same direction
C)are unrelated
D)can be determined separately
3
The pleasure, usefulness, and satisfaction a consumer gets from using a product is called __________.
A)collateral
B)utility
C)contraction
D)durability
4
A table that shows the quantity demanded of a good or service at each possible price is called a __________.
A)market graph
B)quantity schedule
C)demand schedule
D)market-demand graph
5
When you experience less satisfaction from eating the fourth slice of pizza than you did the first, it is an example of __________.
A)demand drop-off
B)marginal scale drop
C)diminishing marginal utility
D)utility decline
6
Movement of population into a market area can lead to __________.
A)an increase in demand
B)a decrease in demand
C)no change in demand
D)unemployment
7
When demand decreases, the demand curve __________.
A)shifts to the left
B)shifts to the right
C)curves upward
D)forms a horizontal line
8
An example of substitutes would be __________.
A)coffee and tea
B)cars and gasoline
C)videotapes and VCRs
D)pharmacists and medicine
9
An example of complementary goods would be __________.
A)margarine and butter
B)pens and pencils
C)computers and software
D)trains and airplanes
10
If changes in price have little effect on the demand for a product, the demand is considered __________.
A)elastic
B)stretchable
C)static
D)inelastic
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