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AS level UNIT 2: Supply, Demand & Equilibrium Flashcards | StudBud
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AS level UNIT 2: Supply, Demand & Equilibrium
AS level UNIT 2: Supply, Demand & Equilibrium
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StudBud Administration
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Practice questions for supply and demand using outside factors.
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13 cards
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Questions
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Answers
1
A decrease in the price of the good itself will cause...
a contraction along the demand curve.
a leftward shift of the demand curve.
an expansion along the demand curve.
a rightward shift of the demand curve.
2
An increase in price of the good itself will cause...
a leftward shift of the supply curve.
an expansion along the supply curve.
a contraction along the supply curve.
a rightward shift of the demand curve.
3
An increase in costs of production (ceteris paribus) will cause...
a contraction along the supply curve.
a leftward shift of the supply curve.
an expansion along the supply curve.
a leftward shift of the demand curve.
4
The Levi Strauss Company opens an additional plant in China
Supply Down Price Up
Demand Up Price Up
Demand Down Price Down
Supply up Price Down
5
A report is released that Peanut Butter causes High Blood pressure and Heart attacks
Supply up Price Down
Supply Down Price up
Demand Up Price Up
Demand Down Price Down
6
The Price of Jelly Goes up
Demand Down Price Down
Supply Up Price down
Demand Up Price up
Supply Down Price Up
7
A new type of cotton seed is developed that increases the number of cotton bolls per plant
Supply Down Price Up
Supply Up Price Down
Demand Up Price Up
Demand Down Price Down
8
The number of school-age children bringing a lunch box to school doubles
Demand Up Price Up
Supply up Price Down
Supply Down Price Up
Demand Down Price Down
9
An increase in the price of the good itself will cause...
a leftward shift of the demand curve.
an expansion along the demand curve.
a contraction along the demand curve.
a rightward shift of the demand curve.
10
The peanut pickers' union signs a wage settlement agreement for a 10% per year wage increase
Demand Up Price Up
Demand Down Price Down
Supply up Price down
Supply Down Price Up
11
An advertising campaign promoting denim jeans to Senior citizens is very successful
Demand Up Price Up
Demand Down Price Down
Supply Up Price Down
Supply Down Price Up
12
An increase in average incomes for a normal good (ceteris paribus) will cause...
a rightward shift of the demand curve.
an expansion along the demand curve.
a leftward shift of the demand curve.
a contraction along the demand curve.
13
It suddenly becomes a fad among teenagers to eat peanut butter on everything
Supply Down Price Up
Supply Up Price Down
Demand Up Price Up
Demand Down Price Down
