Ugh
In regard to substitute goods, if the price of sprite increase, what will happen with the demand for a substitute good like 7-up
Increase
Joe recently got a promotion to supervisor at his job. The promotion came with a large raise. What happen to Joe's demand for goods
Increase
Today is the day before the 4th of July and the fireworks store is almost out of fireworks. What will happen to the price
Increase
When the demand curve shifts right because of one of the 5 CTIPS factors, what has happened to demand
Increased
A good that consumers demand more of when their incomes increase
Normal good
A factor that can change the amount demanded for a good would be...
Income, population, and tastes
If a good becomes popular of fashionable, what will happens with the demand for the good
Increase
Consumers are...
People who buy goods and services
The condition that results form society not having enough resources to produce all the things we would like to have
Scarcity
An example of a complementary food for shoes would be
Shoeslaces
A good that can be used in place of another good
Substitute good
Demand means...
The amount of goods/services a consumer is willing to buy
What determines the price of a good or service
supply and demand
Two goods that are bought and used together
Complementary good
What does the law of demand say
Consumers will buy more of something when price increase
If demand for one complementary good like a printer decrease what would happened with the demand for ink cartriges
Decrease
If the population of the united states went down by 25%, what would happen to the demand for food products
Decrease
If the price of a good or service increase, what will happens the demand for it
Decrease
There are lots of holiday decorations still on the store shelves that day after christmas. What will happen to the price of the ornaments
Decrease