Exam Q's Unit 1 - Supply and Demand

Front

What does this curve represent?

Back

supply, supply curve

Front

What does this curve represent?

Back

demand curve, demand

Front

The amount of goods or services available is called?

Back

supply

Front

The point where supply and demand are balanced is called

Back

equilibrium, price equilibrium, market equilibrium

Front

The quantity of a good or service that producers are able and willing to offer for sale at a specified price in a given period of time is?

Back

supply

Front

Demand is the desire and the __________ to buy a product or service.

Back

ability

Front

If the price of printers goes down, what happens in the market for ink cartridges?

Back

Demand increases.

Front

Printers and ink cartridges are typically purchased together. Economists would call these:

Back

Complements

Front

If ASAP Rocky did advertisements for Steak and Shake, this would cause the ___________ curve for Steak and Shake to shift ____________.

Back

demand.........right

Front

Which of these are determinants of demand?
- Income
- Tastes and preferences
- Price of other goods
- All of these
- None of these

Back

All of these