10/31/23, 5:27 AM Demand recap

NAME :

CLASS :
Demand
recap DATE :

1. In a diagram, D1 is the initial demand curve for student places at universities. D2

is the new demand curve which has shifted to the right. What could cause the
demand curve to shift to D2?

higher A Level grades demanded for a decrease in the level of youth

A B
university entrance unemployment

an increase in graduate earnings a decrease in student fees for

C compared with non-graduate D universities
earnings

2. A rise in the price of a good is accompanied by an increase in the quantity

demanded.
What could explain this?

The price of the good is taken to be The price of a complementary good

A B
an indication of the level of quality. has also increased.

The substitute goods are all very Consumers spend a high proportion
C D
much more expensive. of disposable income on the good.

3. Demand indicates how much good or service consumers are both ___________and
________ to buy at each possible price (price level) during a given
period,______________.

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10/31/23, 5:27 AM Demand

4. The demand curve is a graph showing the relationship between

___________,
the _________________________of a good and its ceteris

price quantity
A B

C quali D beauty

5. The graph is plotted with the prices of the good on the ____________
against the quantity demanded for the good on the ______________.

6. The desire to have some good or service and the ability to pay for it

A equilibrium B supply

C quantity demanded D demand

7. The normal demand curve is ____________ sloping .

A downward B upward

8. This indicates there is an __________________ relationship between the price of

the good and the quantity demanded

A inverse B direct

9. The reason why the demand curve is downward sloping is because of two effects:
______________ effect and ____________effect.

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10/31/23, 5:27 AM Demand recap

10. Market demand curves are obtained by

determining the price each observing the prices and quantities

consumer is willing to pay for the sold in a market over time and
A B
good & summing those prices across plotting those price- quantity
all consumers combinations in a graph

observing the behavior of an summing the quantities every

C individual consumer in a market D consumer is willing to buy at each
different price

11. The diagram represents a

A increase in demand B decrease in demand

12. An decrease in demand for iPhones in HK could

be caused by a(n)

the price of iPhone apps increased

A increase in population in B

increase in price for Samsung Galaxy

the price for iPhones is expected D
C
to increase next week

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