5 Questions
Which relationship does the demand curve show?
Inverse relationship between price and quantity
What happens to quantity demanded when price increases?
Quantity demanded decreases
What is the substitution effect?
When consumers substitute one good for another
What is the purpose of the video mentioned in the text?
To save time in an economics class
Should students take notes while watching the video for the first time?
No, they should just understand the concepts
Test your knowledge of supply and demand in economics with this quiz by Jacob Clifford. See if you can bridge the gap between introduction and application as quickly as possible!
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