Economic questions - They were on the test 2 years ago.?
8. The `Law' of Demand states that
a. there is a direct relationship between a product's price and the quantity demanded.
b. the quantity demanded of a product will decrease when the product's price increases.
c. the demand curve for a product will shift to the left when the product's price increases.
d. consumers buy more of a product when its price is low because sellers supply more.
9. The demand for a product would decrease if
a. buyers expected the product's price to be much higher in the future.
b. the price of the product increased.
c. the popularity of the product decreased.
d. the number of sellers in the market decreased.
e. b and c.
10. A change in the quantity supplied of a product
a. causes the product supply curve to shift.
b. causes the product demand curve to shift.
c. may be caused by a change in the number of sellers in the market.
d. may be caused by a change in the price of the product.
---------------
I've had my own answers, but they might be wron
Answer:
8)b
9)e
10)d
8. b, 9.b,10.d
More Questions and Answers:
More Questions and Answers:
commodity price collapse?
Why does "rich" America look so poor?
what is a consumption subsidy?
What is the worst effect on poverty in regards to education?
what is cross price elasticity of demand (XeD)?
What is the new argument to defend Capitalism?
What's the worth of money nowadays in our society?
Based upon Bush's past record of lies and bankruptcies - would you trust him to run your company??
How could you use the utility maximization rule to justify paying or not paying for ESPN Premium membership?
a. there is a direct relationship between a product's price and the quantity demanded.
b. the quantity demanded of a product will decrease when the product's price increases.
c. the demand curve for a product will shift to the left when the product's price increases.
d. consumers buy more of a product when its price is low because sellers supply more.
9. The demand for a product would decrease if
a. buyers expected the product's price to be much higher in the future.
b. the price of the product increased.
c. the popularity of the product decreased.
d. the number of sellers in the market decreased.
e. b and c.
10. A change in the quantity supplied of a product
a. causes the product supply curve to shift.
b. causes the product demand curve to shift.
c. may be caused by a change in the number of sellers in the market.
d. may be caused by a change in the price of the product.
---------------
I've had my own answers, but they might be wron
Answer:
8)b
9)e
10)d
8. b, 9.b,10.d
The answers post by the user, for information only, FunQA.com does not guarantee the right.
More Questions and Answers:
More Questions and Answers: