Demand (OCR A-Level Economics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does the term 'ceteris paribus' mean?
What does the term 'ceteris paribus' mean?
Other things being equal
What is required for 'effective demand'?
What is required for 'effective demand'?
Both willing and able to purchase
What relationship exists between price and quantity demanded?
What relationship exists between price and quantity demanded?
Inverse relationship
In which direction does the demand curve typically slope?
In which direction does the demand curve typically slope?
Downward from left to right
What causes an extension of demand?
What causes an extension of demand?
Price decreases
What is a contraction of demand?
What is a contraction of demand?
Price rises, quantity falls
How is market demand derived?
How is market demand derived?
Horizontal summation of individual demands
What type of demand occurs when goods are consumed together?
What type of demand occurs when goods are consumed together?
Joint demand
Which type of demand involves substitute goods?
Which type of demand involves substitute goods?
Competitive demand
What is composite demand?
What is composite demand?
Demand for a good for multiple purposes
What causes a shift in the demand curve?
What causes a shift in the demand curve?
Factors other than the good's own price
What does a rightward shift in the demand curve indicate?
What does a rightward shift in the demand curve indicate?
Increase in demand