3 Questions
What is demand?
The quantity of a good or service that consumers are willing and able to buy at a given price
What determines demand?
Consumer income and preferences
How does a change in price affect demand?
A decrease in price generally leads to an increase in demand, and vice versa
Test your knowledge of demand with this quiz. Explore the concept of demand and learn about the factors that determine it. Understand how changes in price influence demand and its relationship to consumer behavior.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
