1. For a market to respond to supply and demand it is important that

Group of answer choices

a. consumers has limited choices

b. Sellers are limited

c. Companies differentiate their products

d. There are multiple sellers and buyers

2. The law of demand states

Group of answer choices

a. when prices go down, demand goes down

b. When prices stay the same, supply goes up

c. When prices go up, demand goes down

d. When supply increases, demand decreases

3. A demand schedule shows

Group of answer choices

a. relationship between the price of a good and the quantity demanded

b. when people want their latte served

c. the forces of supply in relation to demand

d. people can be have high expectations

4. Helen's demand curve is

Group of answer choices

a. upward sloping

b. downward sloping

c. flat

d. vertical sloping

5. The market demand for lattes is

Group of answer choices

a. sum of quantities demanded by all buyers at each price

b. individual demand

c. individual demand with whip cream and carmel

d. individual demand for latte skim milk minus latte whole milk