5. The demand curve: O shows how much buyers are willing and able to buy at diff

Question

5. The demand curve: O shows how much buyers are willing and able to buy at different prices. O is the amount that buyers are willing and able to buy at a particular price. O shows how much sellers are willing and able to sell at different prices. O is the amount that sellers are willing and able to sell at a particular price. 6. What does the law of demand state? O As incomes increase, people consume more of all goods. O The demand for a good increases with the number of consumers in the market. O As the price of a good increases, consumers purchase less of that good. O The supply of a good increases in proportion to the demand for it. 7. A decreasd in demand refers to a rightward shift of the demand curve. a leftward shift of the demand curve. O an upward movement along the demand curve. a downward movement along the demand curve. 8. Figure: Supply Curve Supply

Explanation / Answer

5. The demand curve shows how much buyers are willing and able to buy at different prices. Hence the correct answer is (A).

6. The law of demand states that as the price of a good increases, consumers purchase less of that good, Hence the correct answer is (C).

7. A decrease in demand refers to a leftward shift of the demand curve. Hence the correct answer is (B).

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