Froggy Jumps Factors of Demand QuizOnline version Test your knowledge on the factors that influence demand in economics. by sarah ayyad 1 What is the definition of demand in economics? a The quantity of a good or service that is available in the market. b The quantity of a good or service that producers are willing and able to sell at a given price. c The quantity of a good or service that consumers are willing and able to buy at a given price. 2 Which of the following is not a factor that influences demand? a Price of the product b Consumer preferences c Government regulations 3 What is the law of demand? a As the price of a good or service decreases, the quantity demanded decreases, and vice versa. b As the price of a good or service increases, the quantity demanded increases, and vice versa. c As the price of a good or service increases, the quantity demanded decreases, and vice versa. 4 What is the income effect in relation to demand? a The change in quantity demanded due to a change in the price of a substitute good. b The change in quantity demanded due to a change in consumer tastes and preferences. c The change in quantity demanded due to a change in consumer purchasing power. 5 Which of the following is an example of a substitute good? a Coffee and sugar b Coffee and milk c Coffee and tea 6 What is the definition of complementary goods? a Goods that are consumed together but tend to be purchased separately. b Goods that are consumed together and tend to be purchased together. c Goods that are produced together and tend to be sold together. 7 What is the definition of consumer preferences? a The total demand for goods and services in the market. b The price consumers are willing to pay for a good or service. c The individual tastes and desires of consumers for specific goods and services. 8 What is the definition of market demand? a The total quantity of a good or service that all consumers are willing and able to buy at a given pr b The total quantity of a good or service that is available in the market. c The total quantity of a good or service that all producers are willing and able to sell at a given p 9 Which of the following is not a factor that affects consumer preferences? a Cultural and social influences b Government regulations c Advertising and marketing
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