1) It is the ability and willingness of consumers to buy goods & services. a) Demand b) Consumption c) Production d) Production Function 2) It is the amount of a good or service that a consumer plans to buy at a certain price. a) Price b) Demand Curve c) Quantity Demanded d) Demand Schedule 3) It refers to the demand for a good or a service by an individual (or a household). a) Market Demand b) Individual Demand c) Total Demand d) Household Demand 4) Lily would like to purchase 3 sausages. Maria wants to buy 4. Lily otherwise wants 1. How much is the market demand for sausages? a) 8 b) 9 c) 10 d) 11 5) Based on the Law of Demand, as price increases, quantity demanded ______. a) Decreases b) Increases c) No change d) Upward 6) Which one is NOT a factor that affects your demand? a) Price b) Income c) Scarcity d) Capital Resources

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