ch3 - Name: _ Date: _ ch3 1. The Kansas market for corn is...

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Name: __________________________ Date: _____________ ch3 1. The Kansas market for corn is considered a competitive market. This means there are ________ buyers and ________ sellers of corn in Kansas. A) many; few B) few; many C) many; many D) few; few 2. The law of demand states that, other things equal: A) as the price increases, the quantity demanded will increase. B) as the price decreases, the demand curve will shift to the right. C) as the price increases, the demand will decrease. D) as the price increases, the quantity demanded will decrease. 3. Which of the following factors cause a movement along the demand curve? A) change in the prices of related goods B) change in the price of the good C) change in the population D) both a change in the price of the good and a change in the population 4. A shift of the demand curve for Luis's Pizza would not be caused by a change in the: A) buyers' incomes. B)
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This note was uploaded on 03/15/2011 for the course ECON 101 taught by Professor Drwang during the Spring '11 term at National Taiwan University.

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ch3 - Name: _ Date: _ ch3 1. The Kansas market for corn is...

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