Economic Chapter Demand Quiz
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Questions and Answers

What happens to the quantity demanded when the price of a good increases?

  • The quantity demanded increases
  • The quantity demanded remains the same
  • The quantity demanded decreases (correct)
  • The quantity demanded fluctuates

    • How does a decrease in consumer income affect the demand for normal goods?

  • The demand decreases (correct)
  • The demand remains the same
  • The demand becomes elastic
  • The demand increases

    • What is the relationship between price and quantity demanded in a perfectly competitive market?

  • No relationship
  • Inverse relationship (correct)
  • Direct relationship
  • Indirect relationship

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