# Resources to the highest value good or service

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resources to the highest value good or service. Correct resources to the lowest value good or service.
If the price of Pepsi decreases, all else held constant, then we’d expect to see a consequent shift of the demand curve for rev: 05_02_2018
Pepsi to the right. Coke to the right. In a market, buyers want to pay the _____ possible price and sellers want to charge the _____ possible price. rev: 05_02_2018 Multiple Choice lowest, lowest lowest, highest highest, highest highest, lowest The horizontal axis of a graph that shows a market demand curve indicates the rev: 05_02_2018
For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as rev: 05_02_2018
Correct inferior goods. All else held constant, the law of demand suggests that as rev: 05_02_2018 Multiple Choice the price of tablets decreases, the quantity of tablets demanded will decrease. income increases, the quantity of tablets demanded will increase. the price of tablets decreases, the quantity of tablets demanded will increase. Correct the demand for tablets increases, the price of tablets will increase. The law of demand states that, all else held constant, rev: 05_02_2018 Multiple Choice
price and quantity demanded are directly related. consumers will buy more of a product at high prices than at low prices. the larger the number of buyers in a market, the lower the product price will be. price and quantity demanded are inversely related. If product Y is an inferior good, a decrease in consumer incomes will rev: 05_02_2018 Multiple Choice make buyers want to buy less of product Y. shift the demand curve for product Y to the right. Correct
shift the demand curve for product Y to the left. not affect the sales of product Y.
In order to derive a market demand curve from individuals’ demand curves, we add up the rev: 05_02_2018
The demand schedule for a product shows the relationship between how much of the product buyers are willing and able to buy and the rev: 05_02_2018
In moving along a demand curve, which of the following is not held constant?