Understanding Demand and Supply Theory Quiz

Variation in demand between different market segments

Responsiveness of quantity demanded to price changes (correct)

Fluctuations in demand over time

Total quantity demanded at a specific price level

The quantity demanded is directly proportional to price changes

As the price of a good increases, the quantity demanded increases

The quantity demanded is independent of price changes

As the price of a good increases, the quantity demanded decreases (correct)

Movement along the curve is caused by changes in income, while shift is caused by changes in price

Movement along the curve represents short-term changes, while shift represents long-term changes

Movement along the curve represents changes in consumer preferences, while shift represents changes in production costs

Movement along the curve is caused by changes in price, while shift is caused by changes in other factors (correct)

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<p>The responsiveness of quantity demanded to changes in income</p> Signup and view all the answers