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OAE Marketing (026) Practice Tests & Test Prep by Exam Edge

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OAE 026 Practice Test Features

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OAE Marketing Sample Test

1 of 5

The demand curve places prices where?

Correct Answer:

on the vertical axis

supply and demand is a term used frequently in economics. it is associated with the relationship between the amount of a commodity produced and the amount consumers want to purchase. in the demand curve the amount of a commodity is dependent on the price of that particular quantity. the demand curve places price on the vertical axis and quantity on the horizontal axis. it is mostly downward slopping. the curve shows that consumers are more likely to buy commodities at lower prices. changes in non-price factors have the ability to shift the curve. changes in the price follow a fixed demand curve.