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文字文稿1
文字文稿1
Instructions:
Circle the correct answer, fill in the blanks, or write short answers as directed.
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a. If people expect the price of chocolate to rise in the future, they will buy less chocolate
now. [ ]
b. When there are more buyers in the market, demand usually decreases. [ ]
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a. When the price of a good rises, and people buy less of it, it can be replaced with a
_______.
b. If the population increases, the _______ for goods and services typically increases as well.
Q4. Short Answer: Explain in one sentence how a decrease in income might affect demand for
normal goods.
_____________________________________________________________
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### Section C: Movement Along the Demand Curve
Q5. Multiple Choice: What causes movement along the demand curve?
d. Change in population
Q6. Short Answer: Explain in a few words what happens on the demand curve when there is a
decrease in the price of a good.
_____________________________________________________________
Q7. Scenario: Imagine the price of ice cream falls as winter approaches. Use the terms "Demand
Curve" and "Quantity Demanded" to describe what might happen.
_____________________________________________________________
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Q8. Think about a product you use every day. Write down what might cause you to stop buying it,
and what might cause you to buy more of it.
Product: ____________________
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Instructions:
Read each scenario carefully and answer the following questions. Use economic terms learned in
class and explain the reasoning behind your answers.
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In recent years, there is a significant increase in people's concern about the environment. Many
consumers are now opting for electric cars instead of traditional gasoline vehicles.
Q1. How does the increasing preference for electric cars affect the demand curve for traditional
gasoline vehicles? Explain.
Q2. Identify and explain a non-price determinant of demand that is mentioned in the scenario.
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A world-renowned athlete signs an endorsement deal with a particular brand of sneakers. After
the advertisement campaign is launched, these sneakers become extremely popular among
consumers.
Q3. How does the celebrity endorsement affect the demand curve for the endorsed sneakers?
Explain.
Q4. What non-price determinant of demand is impacting the sneakers' demand curve in this
scenario?
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Q5. How will the increase in income levels likely affect the demand curve for normal goods in
Country X? Explain.
Q6. Is the shift in demand for inferior goods in Country X likely to be the same as for normal
goods? Explain.
Consider a product or service that you use regularly. Can you think of a scenario that might cause
a shift in its demand curve? Explain how and why the demand curve would shift, using
appropriate economic terminology.