Question

25) Demand refers to: A) the various quantities that people are willing and able to buy...

25) Demand refers to:
A) the various quantities that people are willing and able to buy at various prices
B) the various quantities that are ultimately bought at various prices
C) the total amounts actually sold by firms
D) the total amounts consumed by buyers
26) A demand for a product exists provided that:
A) people would like to have the product
B) people can afford to buy the product
C) people are willing and able to buy the product
D) firms are willing to sell the product
27) A demand schedule shows:
A) an inverse relationship between price and quantity demanded
B) a direct relationship between price and income
C) an inverse relationship between income and quantity
D) a direct relationship between income and quantity
28) A demand schedule:
A) is a graphical illustration of the amount actually purchased at a given price during a period of
time
B) must show all points that lie on the demand curve with which it is associated
C) is a tabular representation of various quantities that people are willing to offer to demanders at

various prices
D) is a tabular representation of various quantities that people will be willing and able to buy at
various prices

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Answer #1

Answer option)the various quantities that people are willing and able to buy at various prices

Demand refers to the various quantities that people are willing and able to buy at various prices

Answer option)people are willing and able to buy the product

demand for a product exists provided that people are willing and able to buy the product

Answer option)a Graphical presesentation represents relationship between price and quantity demanded

demand schedule shows an inverse relationship between price and quantity demanded

Answer option)a tabular representation of various quantities that people will be willing and able to buy at variousprice

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