Econ 12
Name:
Date:
Chapter 2 Worksheet
Page 29-34
1. What is the difference between change in quantity demanded vs. change in demand?
Change in quantity demanded = movement up and down the curve
Change in demand = shift of the curve
2. List all the factor(s) that affect the change in quantity demanded
Price
3. When two variables are inversely related, what does that mean?
When one variables goes up the other variable goes down
4. When consumer A’s income goes up, describe what happens to the demand curve for a normal
product?
Shifts to right
5. When the price of A goes up, describe what happens to the demand curve of B, a substitute
product
Shifts to right
6. When the price of A goes up, describe what happens to the demand curve of B, a
complementary product
Shifts to left
7. List all five major demand determinants
 Number of buyers
Econ 12
Name:
Date:
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Income
Price of related products
Consumer preferences
Consumer expectations
Start on page 35
8. When two variables are directly related, what does this mean?
When one variables goes up, the other move in the same direction
9. List all 6 supply determinants
 Number of producers
 Resource prices
 State of technology
 Change in nature
 Prices of related products
 Producer expectations