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Supply and Demand Shifters Flashcards | StudBud
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Supply and Demand Shifters
Supply and Demand Shifters
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StudBud Administration
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Supply and Demand Headlines
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Product: Goose Feathers. Headline: Price for Foie Gras (Goose Liver) increases.
No shift in supply
Demand Decreases
Supply Shifts Left
Supply Shifts Right
2
Product: Chocolate Bars. Headline: Cocoa Beans shortage!
Demand Shifts Right
Supply Shifts Left
Supply Shifts Right
Demand Decreases
3
Product: Laptop Computers. Headline: Laptop Computer Prices rising
No Shift
Supply Increases
Demand Decreases
Demand Increases
4
Product: X-box 360 games. Headline: IRS pays triple for tax refunds!!
Demand Decreases
Supply Increases
Demand Shifts Right
No Shift
5
Market: Motorcycles. Headline: Price of cars/trucks down to all time low!
Demand Shifts Left
No shift in Demand
Demand Increases
Supply Shifts Left
6
Product: Avocados. Headline: Drought Causes 50% jump in water prices in California
Demand Shifts Left
Demand Increases
Supply Shifts right
Supply Decreases
7
Product: Orange Juice. Headline: Steph Curry attributes his success to drinking Orange Juice
Demand Shifts Left
Supply Increases
Demand Increases
No shift
8
The Law of Demand states that as price goes up, ....
The Demand Curve Shifts to the right
Quantity Supplied Decreases
Quantity Demanded Decreases
Quantity Demanded Increases
9
Product: Diapers. Headline: Birthrates skyrocket over last 6 months.
Demand shifts left
Supply Increases
Demand Shifts right
No shift in demand curve
10
Product: Lazy Boy Recliners. Headline: Price for Lazy Boy Couches keeps going up!
Supply Increases
Demand Shifts Left
No shift in Supply
Supply Shifts Left
11
Product: Mattresses. Headline: Mattress store will raise prices by 15% next year
Demand Increases
No Shift in Demand
Supply Increases
Demand Shifts Left
12
Market: Milk. Headline: Price of Cereal drops significantly!
Demand Shifts Left
Supply Increases
No Shift in Demand
Demand Increases
13
Which of the following would NOT cause a shift in the supply curve?
Cost of Prodcution
Natural Disasters
Changes in income
Cost of Inputs/ Resources
