Other Economics Answers

Demand Review: (pick one)

16) If there is a decrease in price of razor handles, then demand for complement razor blades will (increase/decrease).

Demand Review: (pick one)

15) If there is decrease in price of computers, then the demand for complement software will (increase/decrease). This is (direct/inverse) relationship.

Demand Review: (pick one)

14) If there is “decrease in price of butter”, then demand for its substitute margarine will (increase/decrease). This is a (direct/inverse) relationship.

Demand Review: (pick one)

13) With introduction of calculator, the demand for the slide rule (increase/decrease) and demand curve for slide rules shifted (right/left)

Demand Review: (pick one in parentheses)

11) an “increase in income” would result in an (increase/decrease) in (D/QD) for spam.

12) Successful advertising taste normally leads to (increase/decrease) in (D/QD).

Demand Review: (pick one in parentheses)

9) “A change in demand” results from a (change in price/change in non price factors).

10) “An increase in income” would result in an (increase/decrease) in (D/QD) for CDs.

Demand Review: (pick one in parentheses)

8) “Substitution effect” says that when prices drop like for the iPad substitute goods like the Galaxy Tab become relatively (cheaper/more expensive) and (more/fewer) iPads are bought.

Demand Review : fill in the blank ; (pick one)

6) “Change in QD” means that there is (shift of the demand curve/movement along stable demand curve) as a result of a change in ______.

Demand Review: fill in the blank

5) Diminishing marginal utility - states that the ______ ______ we get from additional quantities of the product begins to ______.