Economics Unit 2 Review

A table showing prices and quantity supplied at those prices is the

What type of Economics studies the large scale overall economy and economic systems?

If prices are too low what will result?

How would an increase in the price of cell phones affect the sales of cell phone cases?

The cost of chicken increases causing

A change in price will cause

What is demand?

A graph showing prices and the quantity demanded at those prices is a

Which of the following would not cause a change in demand?

A table showing prices and quantity demanded at those prices is the

All human workers on Ford's assembly line are replaced with robots causing

The fact that price and quantity supplied have a positive relationship is

What type of goods are cell phones & cell phone cases?

A graph showing prices and the quantity supplied at those prices is a

The government enacts regulations on the pesticides used to grow corn, causing

The price at which the market will be in equilibrium

The point on the supply & demand model where quantity supplied is equal to quantity demanded

If prices are too high what will result?

Taxes are increased on makers of less fuel efficient cars

What situation does this graph show?

Russia has millions of soldiers die in WW3 fighting North Korea, causing in Russia

The government increases taxes on makers of sugary foods causing

Businesses expect that next year consumers will want to watch fewer superhero movies causing

Putting supply & demand on the same graph to predict prices & quantities is the

What situation does this graph show?

What situation does this graph represent?

The extra usefulness that buying one more of an item provides is

What type of goods are pens and pencils?

The economy takes a nose dive into recession causing consumer income to drop and

A computer company can make twice as many chips as before with the same resources, causing

What situation does this graph show?

Widespread fear of government mind control beam conspiracies would cause

A change that affects consumer behavior (except a change in a product's price) could cause

News footage airs for several days showing riots across America, causing

Consumers expect Samsung's S8 phones early release due to problems with the S7 phone, causing

A payment from the government to produce more of a product would be a

Parachute pants become fashionable again, taking everyone by surprise, causing

The economy is doing particularly well leading consumer income to rise, causing

What branch of Economics studies small scale interactions?

Heavy advertising for Snuggies would cause

How will an increase in the price of pencils affect the market for pens?

Government gets rid of regulations on chemical plants causing widespread pollution and

A large increase in the number of babies would cause

An event that affects producers' behavior (except for a just change in price) can cause

Vintage Furbies become a new fad among hipsters causing

News stations in Nederland heavily advertise the possibility of floods next week causing

The fact that price and quantity demanded have an inverse relationship is the

What situation does this graph show?

The cost of making batteries decreases causing

What situation does this graph represent?