The Law of Demand

Question 1

Use what you have learned about demand to answer the question.Based on the law of demand, when the price of a specific good decreases, what will happen to the quantity demanded?

Revolt · Accepted Answer

A: It will increase.

Question 2

If the quantity demanded for a product changes very little as the price increases, this means that the product is an good.

Revolt · Accepted Answer

B: inelastic

Question 3

What principle does this demand curve demonstrate?

Revolt · Accepted Answer

A: quantity demanded increases as prices decrease

Question 4

This graph shows the quantity of t-shirts demanded at D and D1.The change in quantity demanded caused by a change in the price of t‐shirts is shown as

Revolt · Accepted Answer

C: movement along the demand curve.

Question 5

If the quantity demanded for an item increases significantly when the price decreases, the demand for the good is .

Revolt · Accepted Answer

A: elastic

The Law of Demand Answers

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