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03-19-2008, 08:50 PM
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| lets see if you know your economics!? I took some of these questions out of my old quiz and i want to know if you guys could answer and get it right! Question 1 The relationship between the price of a good or service and the quantity that the consumers are willing to purchase is known as: Supply Demand Quantity Demanded Price Question 2 The amount of a good or service that consumers demand at a given price is known as: Supply Demand Quantity Demanded Price Question 3) The law of demand states that: All things being equal (ceteris paribus), as a price of a good increases demand for the good will decrease All things being equal (ceterius paribus), as the price of the good increases demand for the good will increase All things being equal (ceterius paribus), the price of the good is not really affected by the demand for the good      |
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03-19-2008, 08:52 PM
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| Nice try. Answer your own questions. It's your test, not mine. Old questions indeed! :[ |
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