Cereris paribus Study guides, Class notes & Summaries
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NDSU ECON 201 Exam 2 With Correct Answers
- Exam (elaborations) • 9 pages • 2024
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NDSU ECON 201 Exam 2 With Correct Answers...
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MICROECONOMICS exam 1-Questions and Answers Graded A+
- Exam (elaborations) • 238 pages • 2024
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MICROECONOMICS exam 1-Questions and Answers Graded A+ 
 
in order to have DEMAND consumers need to have the.. - ANSWER-ABILITY to buy 
WILLINGNESS to buy 
 
law of demand - ANSWER-Cereris Paribus (other things remain the same), as price goes DOWN, MORE quantities are demanded 
 
6 Determinants of DEMAND 
SHIFTS ARE CAUSED BY... 
(know 4 & explain) - ANSWER-1. NUMBER of buyers (population changes) 
2. INCOME of buyers 
 -normal goods v. inferior goods 
 -as income increases the demand for normal...
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