The law of demand states that if the price of CD’s rise, consumers will

Quantity demanded will not change

Which of the following is NOT a determinant of the supply of peanut butter?

The income of peanut butter consumers

The wages of peanut butter factory workers

Existing peanut butter making technology

The United States imports many cars from Japan. Suppose that the price of material(s) that Japan uses in making cars declines. What is the INITIAL (first) effect this will have on the Japanese car manufacturers?

The input costs of Japanese made cars in the US will decrease

The input costs of Japanese made cars to the US will increase

The quantity supply of Japanese made cars sold in the US will decrease

The quantity demand of Japanese made cars sold in the US will decrease

Oreo cookies are now extremely expensive to purchase. Instead of buying Oreo cookies , I now want to buy Chips Ahoy . What determinant of demand does this likely fall under?

Change in Price of Substitute Good

Change in Price of Complementary Good

Change in Consumer Price Expectations

Change in Number of Consumers in the Market

Jennifer Lopez is seen wearing a new short and sleek dress . People now want this dress. Which demand determinant is this most likely to fall under?

Change in Price of Substitute Good

Change in Consumer Price Expectations

I know that the iPhone 8 is coming out next year but really need a phone badly. I'm thinking about buying an iPhone 7 when the new iPhone comes to the market because it will be much cheaper than today's price. What determinant of demand does this suggest?

Change in Consumer Price Expectations

Change in Price of Complementary Good

Change in Number of Consumers in the Market

Demand & Supply

Authored by Emerline Henry

Education, Other

6th Grade - University

CCSS covered

Used 51+ times

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22 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This part of the market determines SUPPLY

buyers

sellers

consumers

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A group of buyer and sellers of a particular good or service

Supply

Demand

Agency

Market

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

For the law of demand, as price rises, what happens to quantity demanded?

it goes up

it goes down

it stays the same

it is not effected

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the law of demand, as price rises, what happens to quantity demanded?

it goes up

it goes down

it stays the same

it is not effected

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This part of the market determines SUPPLY

buyers

sellers

consumers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the law of demand, as price rises, what happens to quantity demanded?

it goes up

it goes down

it stays the same

it is not effected

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When quantity supplied and quantity demanded is equal

surplus

shortage

equilibrium

law of demand

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Demand & Supply

This part of the market determines SUPPLY

A group of buyer and sellers of a particular good or service

For the law of demand, as price rises, what happens to quantity demanded?

For the law of demand, as price rises, what happens to quantity demanded?

This part of the market determines SUPPLY

For the law of demand, as price rises, what happens to quantity demanded?

When quantity supplied and quantity demanded is equal

If a price is above equilibrium price, it creates a...

If a price is below the equilibrium price it creates a...

What does this curve represent?

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