home

Law of Demand Definitions

Based on year 10 economics, type in the correct term for each definition
Quiz by CompleteTwaddle
Rate:
Last updated: June 13, 2021
You have not attempted this quiz yet.
More quiz info >>
First submittedJune 13, 2021
Times taken3
Average score100.0%
Report this quizReport
Quiz and answer stats >>
Friends stats >>
4:00
Enter answer here
0
 / 9 guessed
The quiz is paused. You have remaining.
Scoring
You scored / = %
This beats or equals % of test takers also scored 100%
The average score is
Your high score is
Your fastest time is
Keep scrolling down for answers and more stats ...
Hint
Answer
Of shortage, or of limited supply, affecting economic and personal value
Scarcity
Next best spending alternative given up
Opportunity Cost
Limited Resources, like skills, income, and time
Means
Things that you are willing and able to buy, or don't necessarily need
Wants
Beliefs or ideas that influence our decisions
Values
High Quantity (demanded) + Low cost = High Demand, and vice versa
Law of Demand
How much a product or service is wanted, based on quantity and cost
Demand
'Holding everything as the same'
Ceteris Paribus
The intercept of Quantity Supplied and Quantity Demanded on a Demand graph
Equilibrium
No comments yet
Save Your Progress

Copyright H Brothers Inc, 2008–2024

Contact Us | Go To Top | View Desktop Site