Five Determinants of Demand & the Demand Curve

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is a demand curve?

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1. Based on the demand curve, how many painted mugs will be sold if the price is 0?

2. What happens to the demand if the income of the buyers decrease?

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About This Quiz & Worksheet

You can quickly gauge how much you understand about demand and the demand curve using this quiz and worksheet assessment. You must be able to define key terms and understand how demand is affected in different situations in order to complete this assessment.

Quiz & Worksheet Goals

You will be required to do the following when you take this quiz:

  • Define demand curve
  • Solve a given demand curve problem
  • Indentify what happens to the demand if the income of buyers decreases
  • Differentiate between substitute and complementary goods
  • Recall the effect of a decline in the population of the buyers in the demand for goods or services

Skills Practiced

  • Problem solving - use acquired knowledge to solve a given demand curve problem
  • Defining key concepts - ensure that you can accurately define demand curve
  • Interpreting information - verify that you can read information regarding the effects of a decrease in buyers' income on demand and interpret it correctly
  • Distinguishing differences - compare and contrast substitute goods and complementary goods

Additional Learning

Review additional details about this topic by accessing the lesson titled Five Determinants of Demand & the Demand Curve. You will study such details as:

  • A demand curve's shape
  • What the common Latin phrase in economics, ceteris paribus, means
  • Which determinant is the most subjective
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