bruh reall

The relationship between quantity supplied and price is _____ and the relationship between quantity demanded and price is _____.

• 
  inverse, direct

• inverse, inverse

• 
  direct, inverse

• direct, direct

When a consumer’s need to a particular product is not urgent, demand for that product tends to be

• 
  inelastic

• elastic

• unit elastic

• complementary

Which of the following choices would cause the change shown in the graph:
/->/

• the number of sellers in the market decrease

• government increases regulations in an industry

• inputs become less expensive

• taxes for producers increase

It is often cheaper and more efficient for consumers if certain utilities are produced, maintained, and delivered by one or two companies. This would be an example of:

• Restricted Competition

• Elasticity

• Economies of Scale

• Deregulation

What will happen in the market when a subsidy is provided to producers?

• Supply will decrease, resulting in a decrease in quantity and an increase in price.

• Demand will decrease, resulting in a decrease in quantity and a decrease in price.

• Supply will increase, resulting in an increase in quantity and a decrease in price.

• Demand will increase, resulting in an increase in quantity and an increase in price.

Which of the following always results in an increase in price and quantity?

• an increase in demand with no change in supply

• an increase in supply and a decrease in demand

• a decrease in demand and supply

• an increase in demand and supply

A leftward shift of a supply curve for avocados (a normal good) might be caused by:

• a decrease in the wages that must be paid to avocado pickers

• an improvement in avocado picking techniques

• some avocado farmers leaving the market

• 
  an increase in consumer incomes

This occurs when quantity supplied is greater than quantity demanded:

• 
  equilibrium

• elasticity

• surplus

• shortage

Rank the market structures in order from MOST to LEAST competitive:

• Oligopoly – Monopoly – Perfect Competition – Monopoly

• Perfect Competition – Monopolistic Competition – Oligopoly – Monopoly

• Perfect Competition – Monopoly – Oligopoly – Monopolistic Competition

• Monopoly – Oligopoly – Monopolistic Competition – Perfect Competition

If the price of cars significantly increases, then the

• Supply of cars will increase

• Supply of auto repair shops will decrease

• 
  The demand for cars will decrease

• Quantity supplied of cars will increase