The Law of the Downward Sloping Demand Curve

Instructions:

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question 1 of 3

The demand curve below shows the demand for bananas at different prices. According to this demand curve, what quantity of bananas would be demanded at a price of 40 cents?

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1. What does the law of demand state?

2. Which of the following factors would NOT lead to a shift in the demand for an item?

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About This Quiz & Worksheet

Demand in economics describes the consumer's needs for a particular product and this interactive quiz and printable worksheet will evaluate you on key topics related to the concept. Topics tested include demand curves, your understanding of the law of demand, and how price and quantity affect demand.

Quiz & Worksheet Goals

The quiz and worksheet will test:

  • The law of demand
  • How price and quantity demanded are related
  • How shifts in demand for a product occur
  • Your understanding of demand curves

Skills Practiced

These are some areas you will also get practice in with these tools:

  • Reading comprehension - ensure that you draw the most important information on the law of demand and demand curves from the related lesson
  • Defining key concepts - ensure that you can accurately define main phrases, such as the law of demand and a demand curve
  • Information recall - access the knowledge you've gained regarding the law of demand
  • Knowledge application - use your knowledge to answer questions about the law of demand and the concept of a demand curve

Additional Learning

For more detail on this topic, please read the lesson called The Law of The Downward Sloping Demand Curve, which covers these objectives:

  • Discuss demand schedules
  • Describe the substitution effect
  • Describe demand curves
  • Understand how to read demand curves
  • Discuss occurrences that will cause a shift in demand
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