Other questions in this quiz

2. what is a quantity demanded falls because of an incresae in price called?

  • traction
  • extension
  • contraction
  • flection

3. What causes a shift in the demand curve?

  • change in supply
  • change in quality
  • change in any of the factors
  • change in price

4. What is the neumonic for the conditions of demand?

  • PLATES
  • PIRATES
  • PILATES
  • PITATES

5. What is the term for the satisfaction derived from the consumption of an additional unit of a good will decrease as more of a good is consumed?

  • Diminishing marginal utility
  • Diminishing marginal returns
  • Diminishing marginal supply
  • Diminishing marginal demand
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