Term
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Definition
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Term
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Definition
| Increase in Quantity Demand |
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Term
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Definition
| Decrease in Quantity Demand |
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Term
| Causes a change in quantity demand |
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Definition
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Term
| An increase in price results in a |
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Definition
| decrease in quantity demand |
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Term
| A decrease in price results in a(n) |
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Definition
| increase in quantity demand |
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Term
| An increase in consumer income results in a(n) |
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Definition
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Term
| An increase in the cost of a complement results in a(n) |
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Definition
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Term
| An decrease in the cost of a complement results in a(n) |
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Definition
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Term
| An increase in the the number of consumers results in a(n) |
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Definition
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Term
| An increase/positive expectations results in a(n) |
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Definition
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Term
| A successful advertising campaign often results in a(n) |
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Definition
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Term
| An item falling out of fashion results in a(n) |
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Definition
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Term
| The price of apples increases causing a(n) |
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Definition
| decrease in quantity demand |
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Term
| A report states that apples have many health benefits causing a(n) |
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Definition
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Term
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Definition
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Term
| A report states that pesticide used on apples may be dangerous causing a(n) |
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Definition
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Term
| Coke and Pepsi are considered |
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Definition
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Term
| If the price of Coke increases the demand for Pepsi will |
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Definition
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Term
| If the price of Coke decreases the demand for Pepsi will |
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Definition
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Term
| Peanut butter and jelly are |
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Definition
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Term
| If the price of peanut butter increases then |
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Definition
| demand for jelly decreases |
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Term
The Law of Demand states that as
A. Price increases Demand increases
B. Price decreases Demand increases
C. Price increases quantity demand increases
D. Price decreases quantity demand increases |
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Definition
| D. Price decreases quantity demand increases |
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Term
The Law of Demand states that as
A. Price decreases Demand increases
B. Price increases Demand increases
C. Price increases quantity demand decreases
D. Price decreases quantity demand decreases |
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Definition
| C. Price increases quantity demand decreases |
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Term
A person being less likely to buy additional units of the same product at the same price is exhibiting the concept of
Law of Demand
Paradox of Value
Diminishing Marginal Utility
Elasticity |
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Definition
| Diminishing Marginal Utility |
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