Supply and demand

Flashcard
•
Business
•
12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
According to the law of demand, as price rises, what happens to quantity demanded?
Back
It goes down
2.
FLASHCARD QUESTION
Front
What does this curve represent? Options: Supply, Equilibrium, Demand, Surplus
Back
Demand
3.
FLASHCARD QUESTION
Front
Goods that are bought and used together are: complementary goods, substitute goods, income goods, unrelated goods
Back
complementary goods
4.
FLASHCARD QUESTION
Front
The diagram represents a
Back
increase in demand
5.
FLASHCARD QUESTION
Front
What will cause an increase in the quantity demanded of snowboards? Options: More costly production methods, A decrease in the price of lift tickets at snowboarding resorts, A decrease in consumer income, A decrease in the population.
Back
A decrease in the price of lift tickets at snowboarding resorts.
6.
FLASHCARD QUESTION
Front
The movement from Point A to Point B represents a(n)
Back
decrease in the quantity supplied
7.
FLASHCARD QUESTION
Front
Which of the following would not shift the supply curve for iPhones? Options: an increase in the price of iPhones, a decrease in the number of sellers of iPhone, an increase in the price of plastic, an input into the production of iPhones, an improvement in the technology used to produce iPhones
Back
an increase in the price of iPhones
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