Multiple Choice
In microeconomics, the amount of goods and services that consumers are willing and able to purchase at various prices is called:
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3. The Market Forces of Supply and Demand
The Demand Curve
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A demand curve reflects each of the following except the:
A
quantity supplied at each price
B
relationship between price and quantity demanded
C
quantity consumers are willing to buy at various prices
D
consumer preferences for a good
Verified step by step guidance1
Understand what a demand curve represents: it shows the relationship between the price of a good and the quantity demanded by consumers at those prices.
Recall that the demand curve is derived from consumer preferences and willingness to buy, which means it reflects how much quantity consumers want at different prices.
Recognize that the demand curve does NOT show the quantity supplied at each price, because supply is represented by a separate supply curve.
Identify that the options related to quantity demanded and consumer preferences are consistent with what a demand curve reflects.
Conclude that the only option not reflected by the demand curve is the quantity supplied at each price.
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