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Consumer Demand Assessment Worksheet
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Consumer Demand Assessment Worksheet
📊 Part 1: Multiple Choice Questions
1. What is consumer demand?
The amount of money consumers have to spend
The quantity of goods and services consumers are willing and able to buy at different prices
The total number of products available in the market
The cost of producing goods and services
2. Which factor would most likely increase demand for ice cream?
A decrease in temperature to 10°C
An increase in the price of ice cream
A hot summer with temperatures above 35°C
A decrease in people's income
3. Which of the following are factors that affect consumer demand? (Select all that apply)
Price of the product
Consumer income levels
Weather and seasons
Advertising and marketing
Population size
4. If the price of a substitute good increases, what happens to demand for the original product?
Demand decreases
Demand increases
Demand stays the same
Demand becomes unpredictable
✏️ Part 2: Short Answer Questions
5. Explain the difference between a 'want' and 'effective demand' in economics.
6. List three factors that could cause a decrease in demand for petrol cars in Australia.
7. Complete the sentence: "When consumer income increases, the demand for __________ goods typically increases, while the demand for __________ goods may decrease."
🎯 Part 3: Scenario Analysis
8. Scenario: A new shopping centre opens in your local area, offering the same products as existing shops but at 20% lower prices. Predict what will happen to consumer demand at the existing shops and explain your reasoning.
9. Real-world Application: During the COVID-19 pandemic, demand for certain products changed dramatically. Choose one product that experienced increased demand and one that experienced decreased demand. Explain why these changes occurred using economic factors.
Product with increased demand: _________________________
Product with decreased demand: _________________________
10. Create your own example of how advertising might influence consumer demand for a product popular with teenagers. Include the product name and explain the advertising strategy.
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