⬆️⬆️Economics Exam Questions. To get more freshman exam Questions join via the link below: https://t.me/aaututorial
What is wrong with the statement: Demand refers to the willingness of buyers to purchase different quantities of a good at different prices during a specific time period:
Anonymous Quiz
13%
A) Instead of “willingness”, it should be “ability”.
19%
B) Instead of “demand”, it should be “quantity demanded”.
55%
C) Demand refers to the willingness and ability of buyers, not just willingness.
14%
D) There is nothing wrong with the statement.
The equilibrium quantity of a good will increase and its equilibrium price might rise, fall, or stay
the same when
the same when
Anonymous Quiz
23%
A) its demand decreases and supply increases.
20%
B) its demand increases and supply decreases.
51%
C) its demand and supply both increase.
6%
D) its demand and supply both decrease.
As the opportunity cost of a good decreases, people buy
Anonymous Quiz
32%
A) more of that good but less of its complements.
20%
B) less of that good and also less of its complements.
16%
C) less of that good but more of its complements.
33%
D) more of that good and also more of its complements.
The demand for a good increases when the price of a substitute ________ and also increases when
the price of a complement ________.
the price of a complement ________.
Anonymous Quiz
13%
A) falls; falls
56%
B) rises; falls
17%
C) rises; rises
14%
D) falls; rises
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Which of the following would NOT shift the demand curve for pinet butter?
Anonymous Quiz
12%
A) a change in tastes for pinet butter.
22%
B) a decrease in the price of strawberry jam.
49%
C) a change in the price of pinet butter.
17%
D) an increase in income.
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