1
When the price of something is lower, people will buy more of it.
Law of Demand
Something that people demand more of when their income increases
Normal Good
How much changes in price cause changes in demand
Elasticity of Demand
A table that lists how much multiple people will buy at different price points.
Demand Schedule
What is the name of the Volkswagen in Disney’s "The Love Bug"?
Herbie
Something that people demand less of when their incomes increase
Inferior Good
Factors that either positively or negatively affect demand in the market.
Determinants of Demand
Two goods that are bought and used together
Compliments
When people will continue to buy a product despite a price increase.
Inelastic Demand
What is the name of the event where tributes are chosen for "The Hunger Games"?
The Reaping
If demand decreases at all price points, where does the demand curve shift?
Left/Down
Goods used in place of one another
Substitutes
How much money a business makes at each price point, seen by multiplying price by quantity demanded
Total Revenue
If demand increases at all points, where does this shift the demand curve?
What was the first major console video game that allowed the video game to be saved?
The Legend of Zelda
A graphic representation of the demand for a product at different price points.
Demand Curve
When the change in price is the same as the change in quantity demanded.
Unitary Elastic
What does not cause a shift in demand? Creates a movement
Price
Which law states that as a person consumes more and more of a good, eventually that person will gain less and less satisfaction from that good?
Law of Diminishing Marginal Utility
In what year did the TV show "Grey's Anatomy" premier?
2005
If the Demand for Good B moves decreases when Price of Good A increases, then Good B is...
a complement for Good A
The two variables on a Demand Graph are...
Price and Quantity
When Daniel's favorite video game goes on sale, what happens to the demand curve for the game?
Moves along the curve
A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in
Consumer Tastes
In the movie "Indiana Jones and the Temple of Doom", what is the nickname of Indiana's young sidekick?
Short Round