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Demand Review : fill in the <i>blank</i> ; ( pick one) 6) “Change in QD” means that there is ( shift of the demand curve/movement along stable demand curve) as a result of a change in ______.
“Change in Quantity Demanded” means that there is a movement along stable demand curve as a result of a change in price.
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Demand Review: (pick one) 14) If there is “decrease in price of butter”, then demand for its substitute margarine will (increase/decrease). This is a (direct/inverse) relationship.
14) If there is “decrease in price of butter”, then demand for its substitute margarine will decrease. This is a direct relationship.
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Demand Review: (pick one) 15) If there is decrease in price of computers, then the demand for complement software will (increase/decrease). This is (direct/inverse) relationship.
If there is decrease in price of computers, then the demand for complement software will increase. This is inverse relationship.
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Demand Review: (pick one) 16) If there is a decrease in price of razor handles, then demand for complement razor blades will (increase/decrease).
Increase
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Demand Review: (pick one) 17) If consumers expect a shortage of citrus drops due to bad weather, there will be an (increase/decrease) in (D/QD) and demand curve will shift to (right/left).
If consumers expect a shortage of citrus drops due to bad weather, there will be an increase in D and demand curve will shift to right.
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Demand Review: (pick one) 23) Total revenue (increase/decrease) if an elastic products price decreases. 24) Total revenue (increase/decrease) if an inelastic products price decreases.
23) Total revenue increase if an elastic product's price decreases.24) Total revenue decrease if an inelastic product's price decreases.
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Demand Review: (pick one) 29) A decrease in price of IFuzzy iWuzzys will result in a (decrease/increase) in (D/QD). 30) A decrease in income will cause an (increase/decrease) in (D/QD) for spam.
29) A decrease in price of IFuzzy iWuzzys will result in an increase in QD.30) A decrease in income will cause an decrease in D for spam.
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Demand Review: (pick one) 34) An increase in price of Flip Video Camcorders will (increase/decrease) (D/QD). 35) A decrease in taste for iPhones will cause an (increase/decrease) in (D/QD)
34) An increase in the price of Flip Video Camcorders will decrease QD.35) A decrease in taste for iPhones will cause an increase in D.
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Demand Worksheet: (pick one) 3) Which way will the demand curve shift? (left/right) Draw the new demand curve Link: https://drive.google.com/file/d/1qbZa_pvi8QR968bHxJI_ZYesTmbIA5ED/view?usp=drivesdk
The demand curve will shift rightwards if there is a positive change in tastes, decrease in price of complement goods or increase in price of substitutes, increase in income etc....
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Demand Review: ( pick one) Economists announce that unemployment rate will increase over the next six months. The demand for new homes will (increase/decrease). Which determinant causes this change?
If economists announce that unemployment rate will increase over the next six months, then the demand for new homes will decrease.This change is caused by the expectations of possible decrease...
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