According to the law of demand, when the price of a good falls, its quantity generally:, Falls, Rises, Remains constant, Becomes zero, What is the usual shape of a demand curve?, Upward-sloping, Vertical, Downward-sloping, Horizontal in every case, The law of demand assumes that:, Consumer income keeps changing, All prices keep rising, Other factors remain constant, Tastes change continuously, The price of a good falls, causing its quantity demanded to rise. At the same time, consumer income increases, shifting the demand curve to the right. Which statement is correct?, Both changes represent an increase in demand., The price fall causes an extension of demand, while higher income increases demand., The price fall causes a contraction of demand, while higher income decreases demand., Both changes represent movement along the same demand curve., Which of the following can cause demand for a normal good to increase?, A fall in consumer income, A rise in consumer income, A fall in the number of consumers, A decrease in consumer preference, Tea and coffee are substitute goods. If the price of tea increases, while other factors remain constant, what is the most likely effect in the coffee market?, Movement upward along the coffee demand curve, Leftward shift of the coffee demand curve, Rightward shift of the coffee demand curve, No change in coffee demand under any circumstances

DEMAND QUEST

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