2.2.5 - Factors Affecting Demand
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Practice Questions
Test your understanding with targeted questions
What happens to demand when the price of a commodity decreases?
💡 Hint: Think about the inverse relationship.
Give one example of a normal good.
💡 Hint: Think about what people buy more of when they have more money.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What happens to demand when the price of a commodity increases?
💡 Hint: Remember the inverse relationship between price and demand.
True or False: If consumer income increases, demand for inferior goods increases.
💡 Hint: Consider how income affects purchasing choices.
2 more questions available
Challenge Problems
Push your limits with advanced challenges
A sudden rise in avocado prices has led to decreased sales numbers for guacamole. How would you explain this using the concepts of substitute goods?
💡 Hint: Think about consumer choices when prices change.
Analyze how predictions about an impending recession might affect consumer demand for luxury cars.
💡 Hint: Consider how economic forecasts impact spending habits.
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