Which of the following would cause a decrease in the price of fidget spinners?

It is no longer cool to have a fidget spinner

Which of the following would cause a lower price of DVD Players?

a technological breakthrough in producing DVD players

Which of the following will cause the price of tortilla chips to rise?

A decrease in the price of salsa

If the wages of car workers rise, the price of cars will?

rise and equilibrium quantity will decrease

Which of the following would cause an increase in the price of Kit Kats?

A successful advertising campaign

The law of demand states that the quantity demanded of a product increases as:

the price of the product falls.

What will happen to the price of Coke if the demand for Pepsi increases?

Fall and the equilibrium quantity will fall

If the population of Singapore increases, what will happen to the price of air travel?

rise and equilibrium quantity will rise

When does a shortage occur?

When demand is greater than supply

studbud

Demand & Supply

10 termsStudBud Administration693 plays

Introduction to Economics #demand&supply

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following would cause a decrease in the price of fidget spinners?
It becomes cool to have a fidget spinner
It is no longer cool to have a fidget spinner
A tax is imposed on fidget spinners
Raw material prices increase
2
Which of the following would cause a lower price of DVD Players?
a technological breakthrough in producing DVD players
a higher price of video players
All of the above
a lower price of DVDs
3
Which of the following will cause the price of tortilla chips to rise?
A decrease in the price of salsa
A decrease in the price of corn
Technological advance in the production of tortilla chips
None of the above
4
If the wages of car workers rise, the price of cars will?
rise and equilibrium quantity will increase
rise and equilibrium quantity will decrease
fall and equilibrium quantity will increase
fall and equilibrium quantity will decrease
5
Which of the following would cause an increase in the price of Kit Kats?
A fall in the price of a substitute product
A successful advertising campaign
A fall in incomes
A decrease in rent at the Kit Kat Factory
6
The law of demand states that the quantity demanded of a product increases as:
consumer income rises.
the prices of other products rise.
the prices of other products fall.
the price of the product falls.
7
The price of mountain bikes is higher now, we can conclude that the demand curve shifted out
True
False
8
What will happen to the price of Coke if the demand for Pepsi increases?
Rise and the equilibrium quantity will rise
Fall and the equilibrium quantity will rise
Fall and the equilibrium quantity will fall
Rise and the equilibrium quantity will fall
9
If the population of Singapore increases, what will happen to the price of air travel?
rise and equilibrium quantity will fall
fall and equilibrium quantity will rise
fall and equilibrium quantity will fall
rise and equilibrium quantity will rise
10
When does a shortage occur?
When demand is less than supply
When demand is greater than supply
When demand and supply are equal

Demand & Supply Flashcards | StudBud