3. The Market Forces of Supply and Demand

The demand schedule represents the relationship between the prices of a good, service, or resource and:

When we move along a given demand curve, which of the following is held constant?

Given the following demand and supply schedules for the market for pizza, at what price will the market reach equilibrium?Demand Schedule:Price: 10, Quantity Demanded: 100Price: 8, Quantity Demanded: 200Price: 6, Quantity Demanded: 300Price: 4, Quantity Demanded: 400Supply Schedule:Price: 10, Quantity Supplied: 400Price: 8, Quantity Supplied: 300Price: 6, Quantity Supplied: 200Price: 4, Quantity Supplied: 100

Which of the following correctly states the three main reasons the demand curve is downward sloping?

Which of the following is true about the demand curve?

Which of the following statements about the demand curve is correct? An increase in the price of a good will:

Which of the following factors is most likely to cause a shift in the demand curve for a good?

Given the individual demand schedules for dark chocolate in the accompanying table, which of the following best describes how to derive the market demand curve for dark chocolate?

Why is it important for marketers to see and understand demand curves?

Which of the following best describes a market demand curve?

In moving along a demand curve for good x, which of the following is held constant?

Consider the accompanying graph of the market for cigarettes. If the price of cigarettes increases, what will happen to the quantity demanded, assuming all other factors remain constant?

Assuming ceteris paribus, what principle behind the law of demand is illustrated by a downward-sloping demand curve?

Which of the following would result in the greatest rightward shift of the demand curve for good j?

When higher prices result in a lower quantity demanded, economists call this relationship: