________ are the movements or fluctuation in demand that exhibit no pattern and occur on a random basis.Group of answer choicesSeasonalitiesCyclical patternsRandom variationsTrends

Which one of the following is not a component of demand?Group of answer choicesAverage demandHistorical dataSeasonal elementAutocorrelationA trend

If a small change in the price of an item causes a significant change in the quantity demanded, we say that demand for the item is ___________ .Responsesinelasticinelasticelasticelasticsurplussurplusshortage

If a consumer’s income increases: Group of answer choicesThere will be a change in demand.There will be a movement along the demand curve.There will be an increase in the quantity demanded, but the demand curve will not shift.b and c.None of the above.

In a movement along the demand curve, the demand scheduleMultiple Choicestays the same, as does the price.increases, as does the price.decreases, as does the price.stays the same, but the price changes.

_____________ is the tendency of an object to remain at rest or move with uniform motion, unless acted upon by an unbalanced force.Group of answer choicesFrictionInertiaWeightGravity