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Murphy's Ice Cream

Authored by NG _

Education

University

Used 3+ times

Murphy's Ice Cream
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5 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is a factor that led to a decrease in demand for murphy’s ice cream

Increase in income

Increase in consumers

Change in taste and preference toward artisan food

Increase in substitutes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a factor that led to a decrease in supply for murphy’s ice cream

Increase in factor of production availability

Technological advancements

Palm oil export ban from Indonesia

Supply chain improvements

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of good is murphy’s ice cream

Normal Good

Inferior Good

Luxury Good

Giffen Good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is Murphy’s ice cream considered a luxury?

Higher Price Point

Luxurious Name

Local Ice Cream delight

Interesting Flavours

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the supply chain disruption affected murphy’s ice cream?

Cheaper Transportation Cost

Shortage of raw materials

Longer wait times

Lack of storage space

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