1) This is... a) Extension of demand b) Contraction of demand c) Outward Shift/Increase in demand d) Inward Shift/Decrease in demand 2) This is... a) Extension of demand b) Contraction of demand c) Outward Shift/Increase in demand d) Inward Shift/Decrease in demand 3) This is... a) Extension of demand b) Contraction of demand c) Outward Shift/Increase in demand d) Inward Shift/Decrease in demand 4) This is... a) Extension of demand b) Contraction of demand c) Outward Shift/Increase in demand d) Inward Shift/Decrease in demand 5) What is missing? a) Demand curve b) Equilibrium P and Q labelled c) Axis titles d) Demand curve labelled 6) What might have caused this? a) A fall in the price b) A rise in the price c) A drop in advertising expenditure d) A decrease in the price of cafetieres 7) What might have caused this? a) A fall in the price b) A rise in the price c) An increase in the price of milk d) An increase in the population 8) What might have caused this? a) A rise in promotions b) A fall in the price level c) A government consumer subsidy for coffee d) A rise in the price of tea 9) Which of the following is the reason why the demand curve slops down and to the right? a) Utility Theory, Income Effect, Substitution Effect b) Utility Theory, Substitution Effect, Price Theory c) Utility, Prices, Substitutes d) Substitution Effect, Income Effect, Utilityness 10) The price of a product has decreased. We would expect to see a... a) Contraction in demand b) Extension in demand c) Movement along the demand curve d) A shift in the demand curve

Demand Recap

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