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Demand Test

Enter the letter for the matching Definition
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1.
Price Elasticity of Demand
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2.
Complementary Good
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3.
Law of Demand
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4.
Real Income Effect
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5.
Inelastic Demand
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6.
Demand Curve
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7.
Marginal Utility
A.
economic rule stating that individuals cannot keep buying the same quantity of a product if its price rises while their income stays the same
B.
an additional amount of satisfaction
C.
economic rule stating that the quantity demanded and price move in opposite directions
D.
a product often used with another product
E.
situation in which a product's price change has little impact on the quantity demanded by consumers
F.
downward-sloping line that shows in graph form the quantities demanded at each possible price
G.
economic concept that deals with how much demand varies according to changes in price
Type the Term that corresponds to the displayed Definition.
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8.
the amount of a good or service that a consumer is willing and able to purchase at a specific price
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9.
table showing quantities demanded at different possible prices
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10.
the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period
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11.
economic concept dealing with consumers' responsiveness to an increase or decrease in price of a product
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12.
the ability of any good or service to satisfy consumer wants
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13.
situation in which a given rise or fall in a product's price greatly affects the amount that people are willing to buy
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14.
freely chosen activity between buyers and sellers of goods and services
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15.
economic rule stating that if two items satisfy the same need and the price of one rises, people will buy more of the other

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Created by: abreland
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