809106
Description
Flashcards by casedlynch, updated more than 1 year ago
|
Created by casedlynch
over 10 years ago
|
|
| Question | Answer |
| Which statement is consistent with the law of demand? | A reduction in market price will lead to an increase in quantity demanded. |
| Which of the following characteristics lead to a downward-sloping demand curve? | Diminishing marginal utility and An increase in purchasing power as market price decreases |
| If a buyer withdraws from the market, which way does the demand curve shift? | left |
| a decrease in quantity demanded | Moves the point down along the demand curve |
| a decrease in supply or demand | shifts the curve |
Want to create your own Flashcards for free with GoConqr? Learn more.