A demand curve shows the relationship between:

A demand curve shows the relationship between:
 a. price and quantity demanded.
  b. the demand and supply schedules.
  c. demand and supply equilibrium.
  d. leakages and injections.
  e. price and technology.

QUESTION 2

A demand curve for The Steel Porcupines' concert tickets would show the:
 a. quality of service that customers demand when they buy a ticket.
  b. number of people who like to attend the concert.
  c. number of tickets the promoters are willing to sell at each price.
  d. number of concert tickets that will be purchased at each price.

QUESTION 3

A demand curve for The Steel Porcupines' concert tickets would show the:
 a. number of tickets the box office is willing to sell at various prices.
  b. number of people who need tickets.
  c. quality of people who want to buy these concert tickets.
  d. number of tickets that will be purchased at various prices.

QUESTION 4

The curve that shows the relationship between the price of a good and the quantity that consumers are willing to purchase at each price is the
 a. supply curve. b. demand curve.
  c. production possibilities curve. d. consumption curve.

QUESTION 5

The law of demand refers to the:
 a. tendency of prices to increase as more units of a product are demanded.
  b. increase in price that results from an increase in demand for a good with a limited supply.
  c. inverse relationship between the price of a good and the quantity of the good demanded.
  d. increase in the quantity of a good available as the price of the good increases.

QUESTION 6

Demand curves are negatively sloped when people buy:
 a. less as the price decreases.
  b. more as the price increases.
  c. the same amount as the price changes.
  d. more as the price decreases.
  e. less as incomes decrease.

QUESTION 7

An increase in the quantity demanded of a good is most often due to:
 a. current prices.
  b. higher prices.
  c. higher income.
  d. lower prices.
  e. technological change.

QUESTION 8

A decrease in quantity demanded is given by a(n):
 a. downward shift of the demand curve.
  b. upward shift of the demand curve.
  c. downward movement to the right along the demand curve.
  d. upward movement to the left along the demand curve.
  e. downward shift of both demand and supply curves.