Answer all of the questions below in 2-3 paragraphs each.  Your final submission should be a minimum of two (2) double spaced typed pages.

Unless otherwise stated, you should answer in complete sentences, and be sure to use correct English, spelling, and grammar.  Sources must be cited in APA format.

Your response should be a minimum of two (2) double-spaced pages; refer to the Length and Formatting instructions for additional details.

1.

What is the difference between a   “change in demand” and a change in “quantity demanded.”

2.

What is the difference between a   “change in supply” and a change in “quantity supplied.”

3.

Holding demand constant, what is   the only thing that can cause a change in quantity demanded?  What are   the things that cause a change in demand?

4.

How do changes in income affect   the demand for a good?

5.

How do substitute and   complementary goods affect the demand for a good?

Length/Formatting Instructions

Length

2 typed pages – double spaced   (minimum)

Font

12 point Calibri font

Program/File Type

Submit in Word

Attachments

Should be pasted into the Word   document if possible.

Referencing system

APA referencing system is   necessary in assignments, especially material copied from the Internet.

For   examples of correct citations, visit the following links:

http://owl.english.purdue.edu/owl/resource/560/01/