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Economics: Demand and Consumer Choices Quiz
6 Questions
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Economics: Demand and Consumer Choices Quiz

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Questions and Answers

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

  • The quantity demanded decreases
  • The quantity demanded increases (correct)
  • The quantity demanded remains unchanged
  • The quantity demanded may increase or decrease

    • How does an increase in consumer income affect the demand for normal goods?

  • The demand for normal goods remains unchanged
  • The demand for normal goods may increase or decrease
  • The demand for normal goods decreases
  • The demand for normal goods increases (correct)

    • What effect does a change in the price of a complementary good have on the demand for the main good?

  • The demand for the main good increases (correct)
  • The demand for the main good may increase or decrease
  • The demand for the main good decreases
  • The demand for the main good remains unchanged

    • What happens to the demand for a product when its price decreases?

    <p>The demand increases</p> Signup and view all the answers

    How does an increase in consumer income affect the demand for inferior goods?

    <p>The demand decreases</p> Signup and view all the answers

    What effect does a change in the price of a substitute good have on the demand for the main good?

    <p>The demand for the main good decreases</p> Signup and view all the answers

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