Grade IX B and IX D Solve these questions and get it on Monday / Tuesday (Whenever is the Next class)

DEMAND WORKSHEET

1.      The law of demand states- when the price increases, the quantity demanded will ___________.

When the price decreases, the quantity demanded will _______________.

2.      If a change in price has an effect on the change in quantity, this is known as (elastic / inelastic) demand.  Give a specific example of this type of demand.

 3.      If the federal government says that fish is healthy for you, the demand for fish will

       (increase / decrease).  Which determinant of demand causes this change? _____________________

Which way will the demand curve shift?  (left / right)  Draw the new demand curve- Label it D1.

 4.      Economists announce that the unemployment rate will increase over the next six months.

The demand for new homes will (increase / decrease).   Which determinant causes this change? _____________________.   Which way will the demand curve shift?  (left / right)  Draw the new demand curve- Label it D2

5.      Give an example of diminishing marginal utility involving hamburgers.

 6.      Define and give an example of a complementary good.

 7.      Define and give an example of a substitute good.

  8.      The price of syrup increases, the demand for pancakes will (increase / decrease).

Which determinant causes this change? _________________________.

Which way will the demand curve shift?  (left / right)  Draw the new demand curve- Label it D3.

                                

9.      The price of airline tickets goes up, the demand for train tickets will (increase / decrease).

Which determinant causes this change? ___________________________    Which way will the demand curve shift?  (left / right)  Draw the new demand curve-Label it D4.

 10.  Provide a complement for the following items:

car- __________________           bread-__________________              shoes-_______________

11.  Provide a substitute for the following items:

car-___________________          pen-____________________             television-____________

12.  Using the demand schedule below, draw a demand curve.

Demand Schedule

        Price                    Quantity                                             

       $6.00                         6                                                    

       $5.00                         6

       $4.00                         6

       $3.00                         6

What type of demand curve is this? (elastic / inelastic)

Give an example of a good or service that would have this type of demand curve? ______________

 

13.  Plot the points for the demand curve and label the line D1.

Demand Schedule #1

Price                Quantity                     

$9.00                     1

$6.00                     3

$5.00                     4

$2.00                     6

$1.00                     7

 14.  

                                                                                            

Demand Schedule #2

Price                Quantity      

$9.00                    3

$8.00                    4           Use the graph above, plot the points for the new demand curve and

$5.00                    6            label it D2

$4.00                    7

$1.00                    9

15.  Does a shift from D1 to D2 reflect an increase or a decrease in demand? _________________