Supply/Demand Check In

According to this graph, what is happening to the quantity supplied for Doritos?

• It is increasing

• It is decreasing

• It is staying the same

• Not enough information to determine

If the PRICE of a good increases, what happens to the quantity demanded?

• Quantity demanded will decrease

• Quantity demanded will increase

• Quantity demanded will shift to the left

• Quantity demanded will shift to the right

If a hurricane is expected to in two days, what will happen to the demand for water bottles?

• Demand will shift to the right

• Demand will shift to the left

• Demand will stay the same and prices will decrease

• Demand will stay the same and prices will increase

If the PRICE of a good decreases, what happens to the quantity supplied?

• Quantity supplied will decrease

• Quantity supplied will increase

• Quantity supplied will shift to the left

• Quantity supplied will shift to the right

What is the law of supply?

• As the price of a good increases, the quantity supplied decreases.

• As the price of a good decreases, the quantity supplied increases.

• As the price of a good increases, the quantity supplied increases.

• There is no relationship between the price of a good and the quantity supplied.

What causes a movement along the demand curve?

• Changes in consumer income

• Changes in the price of the good itself

• Changes in the prices of related goods

• Changes in consumer tastes and preferences

According to this graph, what is happening to the quantity demanded for Doritos?

• It is increasing

• It is decreasing

• It is staying the same

• Not enough information to determine

The law of supply states that if the price of CD’s fall, suppliers will

• supply more CDs

• supply fewer CDs

• Quantity supplied will not change

What is the primary reason why goods go into a surplus?

• Prices are too high
• Prices are too low
• Supply is too low
• Demand is too high

If the PRICE of a good decreases, what happens to the quantity demanded?

• Quantity demanded will decrease

• Quantity demanded will increase

• Quantity demanded will shift to the left

• Quantity demanded will shift to the right