Supply/Demand Quiz
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Availability of Substitutes | show 🗑
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| Relative Importance | show 🗑
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| show | You always buy a necessity even if price increases. If price of a luxury item increases, demand may go down. Example (yesterday's luxury becoming today's necessity)
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| Demand is affected by.... | show 🗑
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| Some factors..... | show 🗑
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| A change in demand is referred to as... | show 🗑
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| show | increase in the demand
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| show | decrease in demand
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| A shift can be caused by income when.... | show 🗑
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| A shift can be caused by population when... | show 🗑
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| A shift can be caused by consumer expectation when.... | show 🗑
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| show | ads influence consumers to purchase more products.
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| show | Also known as substitutes = goods in place of one another (margin instead of butter)
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| show | (ex. bell-bottom jeans)
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| A shift can be caused by consumer incentives because.... | show 🗑
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| Elastic Demand | show 🗑
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| show | Demand is NOT affected by a change in price (ex. you have to take the medication so you will buy it no matter how expensive).
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| show | custom and ritual to answer the 3 key economic questions.
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| show | family
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| show | gender lines
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| show | central parts of people's lives.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
gmatise
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