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