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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define demand in your own words.
💡 Hint: Think about what affects consumers' decisions to buy.
Question 2
Easy
What does the Law of Demand state?
💡 Hint: Remember the inverse relationship.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What happens to demand when prices rise?
- It increases
- It decreases
- Stays the same
💡 Hint: Think about buying fewer items when they cost more.
Question 2
True or False: Demand only changes with price adjustments.
- True
- False
💡 Hint: Consider other influences like preferences and income.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A new trendy fashion item rises in price, leading to a decrease in demand. Using economic concepts, explain how factors like consumer preferences and substitutes apply.
💡 Hint: Think about consumer psychology and choices.
Question 2
Discuss the economic implications if everyone's income suddenly doubled for normal and inferior goods.
💡 Hint: Consider how lifestyle and spending change with income shifts.
Challenge and get performance evaluation