Econquiz2
Which of the following will definitely occur when there is a decrease in demand for and an increase in supply of potato chips?
Select one:
a decrease in equilibrium quantity a decrease in equilibrium price an increase in equilibrium quantity an increase in equilibrium price
When economists say the demand for a product has decreased, they mean
Select one:
the product price has increased, and as a consequence, consumers are buying less of the product.
Top of Form
Which of the following would lead to an increase in the demand for computer software?
Select one:
a decrease in the cost of producing computer software a decrease in the price of personal computers a decrease in personal income. a decrease in the price of computer software.
Bottom of Form
How will consumers generally react to an increase in the price of butter?
They will substitute other goods like margarine for the more expensive butter. Multiple choice (one answer) · Points: 1
Top of Form
An increase in demand for laptop computers would likely be caused by
Select one:
a decrease in the price of laptop computers. an increase in the price of a substitute good. an increase in the price of laptop computers. an increase in the price of a complementary good.
Bottom of Form
The law of demand refers to the
/inverse relationship between the price of a good and the quantity demanded.
If the market for blue tooth headsets is unregulated and is presently characterized by excess demand, you can accurately predict that price will
Select one: increase, the quantity demanded will fall, and the quantity supplied will rise.
In which statement(s) is “demand” used correctly?
(I) “An increase in the price of housing will reduce the demand for housing.”
(II) “As consumer income increases, the demand for housing will tend to rise.”
Select one:
in neither statements I nor II in statement II only in both statements I and II in statement I only.
Which of the following will definitely occur when there is a simultaneous
Select one:
a decrease in equilibrium quantity a decrease in equilibrium price an increase in equilibrium quantity an increase in equilibrium price
When economists say the demand for a product has decreased, they mean
Select one:
the product price has increased, and as a consequence, consumers are buying less of the product.
Top of Form
Which of the following would lead to an increase in the demand for computer software?
Select one:
a decrease in the cost of producing computer software a decrease in the price of personal computers a decrease in personal income. a decrease in the price of computer software.
Bottom of Form
How will consumers generally react to an increase in the price of butter?
They will substitute other goods like margarine for the more expensive butter. Multiple choice (one answer) · Points: 1
Top of Form
An increase in demand for laptop computers would likely be caused by
Select one:
a decrease in the price of laptop computers. an increase in the price of a substitute good. an increase in the price of laptop computers. an increase in the price of a complementary good.
Bottom of Form
The law of demand refers to the
/inverse relationship between the price of a good and the quantity demanded.
If the market for blue tooth headsets is unregulated and is presently characterized by excess demand, you can accurately predict that price will
Select one: increase, the quantity demanded will fall, and the quantity supplied will rise.
In which statement(s) is “demand” used correctly?
(I) “An increase in the price of housing will reduce the demand for housing.”
(II) “As consumer income increases, the demand for housing will tend to rise.”
Select one:
in neither statements I nor II in statement II only in both statements I and II in statement I only.
Which of the following will definitely occur when there is a simultaneous