Economics - 0455 CIE

Demand (continued)

Muhtasari

A demand curve can change in two completely different ways, and examiners love to see whether you can tell them apart. Sometimes you slide along the same curve; other times the whole curve jumps to a new position. Mixing these up is one of the most common and costly mistakes in the subject.

In this lesson you will learn the precise difference between a movement along a demand curve and a shift of the curve, what causes each, and how to draw both. Master this and you can explain why prices and quantities change in any market, from coffee to smartphones.

Malengo

  1. causes of extensions and contractions in demand
  2. diagrams that illustrate movements along a demand curve
  3. causes of decreases and increases in demand
  4. diagrams that illustrate shifts of a demand curve

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Maelezo ya Somo

Demand is never fixed. The whole point of markets is that demand responds to events: a price cut, a heatwave, a pay rise, a health scare. Being able to separate a change caused by the good's own price from a change caused by something else is the single most tested skill in the demand topic, and it underpins everything from elasticity to government policy.

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Tathmini ya Somo

Hongera kwa kukamilisha somo la Demand (continued). Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.

Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.

Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.

  1. A fall in the price of a good itself causes: A. a leftward shift of the demand curve B. an extension of demand (movement down the curve) C. a decrease in demand D. a rightward shift of the demand curve Answer: B
  2. Which of the following shifts the demand curve for a good to the right? A. a rise in the good's own price B. a rise in income, for a normal good C. a fall in the good's own price D. a fall in the population Answer: B
  3. A rise in the price of a substitute will: A. decrease demand for the good B. cause a contraction of demand C. increase demand for the good (shift right) D. have no effect Answer: C
  4. A movement up a demand curve to a smaller quantity is called: A. an increase in demand B. a contraction of demand C. a decrease in demand D. a shift of the curve Answer: B
  5. A rise in the price of petrol reduces demand for large petrol cars because they are: A. substitutes B. inferior goods C. complements D. free goods Answer: C

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Ungependa kufanya mazoezi ya maswali ya majaribio kuhusu Demand (continued)? Pakua programu ya Green Bridge CBT ili kupata maswali ya majaribio na tathmini kamili za mazoezi kuhusu mada hii.

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