The price of peanut butter decreases. Indicate what will happen to the demand for jelly.

Demand will increase (shift to the right)

What will happen to the market for apples if...

demand will increase (shift to the right)

5. What will happen to the market for Porcshes (an expensive sports car) if...

demand will increase (shift to the right)

Which Determinant of Demand is at play in this question?/What is causing the demand shift here?

Income of buyers in the market for a normal good

Which Determinant of Demand is at play in this question?/What is causing the demand shift here?

Consumer Tastes and Preferences

What will happen to the market for generic/cardboardy/non-tasty macaroni-'n-cheese dinners if..

Demand will decrease (shift to the left)

Which Determinant of Demand is at play in this question?/What is causing the demand shift here?

Consumer tastes and preferences

What would this situation do to price and quantity of pizza?

price would increase and quantity would decrease

What would happen to price and quantity if 3 more pizza shops opened?

price would decrease and quantity would increase

What will happen in market for snowboards if...

demand will decrease (shift to the left)

2. What will happen to the market for hot dogs?

demand will decrease (shift to the left)

Which determinant is at play with 3 more pizza shops opening in the Tucson market for pizza?

number of suppliers/producers in the maket

The price of iced tea decreases. Indicate what will happen to the demand for lemonade.

demand will decrease (shift to the left)

Which Determinant of Demand is at play here?/What is causing demand to shift?

Income of buyers in the market for an inferior good

Which Determinant of Demand is at play in this question?/What is causing the demand shift here?

Change in Price of a Complimentary Good

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Supply & Demand Shifting and Equilibrium Price Practice

26 termsStudBud Administration1,680 plays

#Econ #Demand #Supply #Determinants #Equilibrium #Price

Flashcards26 cardsFPractice quizPHost liveL

Questions 26

Answers

1
The price of peanut butter decreases. Indicate what will happen to the demand for jelly.
Demand will decrease (shift to the left)
Demand will increase (shift to the right)
no change to demand
Quantity Demanded will for certain decrease
2
What does this situation create?
price floor
a shortage
a surplus
price ceiling
3
What would happen to the market for Pizza if tomato prices rose by a lot?
decrease in demand
increase in demand
increase in supply
decrease in supply
4
What will happen to the market for apples if...
demand will decrease (shift to the left)
quantity demanded will increase for certain
no change in demand
demand will increase (shift to the right)
5
5. What will happen to the market for Porcshes (an expensive sports car) if...
no change in demand
Quantity Demanded will for certain increase
demand will increase (shift to the right)
demand will decrease (shift to the left)
6
What would this situation create?
a surplus
a shortage
a price ceiling
a price floor
7
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market for an inferior good
Income of buyers in the market for a normal good
Number of Consumers in the market
Price of a Substitute Good
8
What will happen to price and quantity if...
Price AND Quantity Increase
Price And Quantity Decrease
Price Increases and Quantity Decreases
Price Decreases and Quantity Increases
9
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Consumer Tastes and Preferences
Consumer Expectations of Future Prices
Income of Buyers in a Market
Price of a Substitute Good
10
What will happen to price and quantity if....
Price increases and quantity decreases
price and quantity decrease
Price & quantity increase
price decreases and quantity increases
11
What will happen to the market for generic/cardboardy/non-tasty macaroni-'n-cheese dinners if..
Demand will increase (shift to the right)
Demand will decrease (shift to the left)
Quantity Demanded will for certain increase
no change in demand
12
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market
Consumer tastes and preferences
Price of a Complementary Good
Consumer expectations of of future price
13
What will happen to the market for Pizza in Tucson if 3 more Pizza shops open?
Increase in Supply
Decrease in Supply
Decrease in Demand
Increase in Demand
14
Which of the Determinants of Demand is at play here?What is shifting the demand curve?
Income of Buyers in the market
Consumer Tastes & Preferences
Price of a Complementary Good
Price of a substitute good
15
What would this situation do to price and quantity of pizza?
price would decrease and quantity would increase
price and quantity would increase
price and quantity would decrease
price would increase and quantity would decrease
16
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market
Price of a Substitute good
Price of of a Complementary Good
Consumer tastes & preferences
17
If three more Pizza shops open in Tucson what would be created (in the short run)?
a price ceiling
a surplus
a price floor
a shortage
18
What would happen to price and quantity if 3 more pizza shops opened?
price and quantity would decrease
price and quantity would increase
price would increase and quantity would decrease
price would decrease and quantity would increase
19
Which determinant is at play here?
Price of Resources
Income of Buyers in the Market
Price of a Related Good
Change in Technology
20
What will happen in market for snowboards if...
demand will decrease (shift to the left)
no change in demand
demand will increase (shift to the right)
Quantity Demanded will for certain decrease
21
2. What will happen to the market for hot dogs?
demand will increase (shift to the right)
Quantity Demanded will for certain decrease
no change in demand
demand will decrease (shift to the left)
22
Which determinant is at play with 3 more pizza shops opening in the Tucson market for pizza?
Price of resources
Income of Buyers
number of suppliers/producers in the maket
number of consumers/buyers in the market
23
The price of iced tea decreases. Indicate what will happen to the demand for lemonade.
Quantity Demanded will for certain decrease
no change in demand
demand will decrease (shift to the left)
demand will increase (shift to the right)
24
Which Determinant of Demand is at play here?/What is causing demand to shift?
Income of buyers in the market for a normal good
Price of a substitute good
Price of a complimentary good
Income of buyers in the market for an inferior good
25
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of Buyers in the Market
Change in price of a Substitute Good
Change in Price of a Complimentary Good
Consumer Tastes & Preferences
26
What does this situation create?
a surplus
a price ceiling
a price floor
a shortage

Supply & Demand Shifting and Equilibrium Price Practice Flashcards | StudBud

Supply & Demand Shifting and Equilibrium Price Practice

26 termsStudBud Administration1,680 plays

#Econ #Demand #Supply #Determinants #Equilibrium #Price

Flashcards26 cardsFPractice quizPHost liveL

Questions 26

Answers

1
The price of peanut butter decreases. Indicate what will happen to the demand for jelly.
Demand will decrease (shift to the left)
Demand will increase (shift to the right)
no change to demand
Quantity Demanded will for certain decrease
2
What does this situation create?
price floor
a shortage
a surplus
price ceiling
3
What would happen to the market for Pizza if tomato prices rose by a lot?
decrease in demand
increase in demand
increase in supply
decrease in supply
4
What will happen to the market for apples if...
demand will decrease (shift to the left)
quantity demanded will increase for certain
no change in demand
demand will increase (shift to the right)
5
5. What will happen to the market for Porcshes (an expensive sports car) if...
no change in demand
Quantity Demanded will for certain increase
demand will increase (shift to the right)
demand will decrease (shift to the left)
6
What would this situation create?
a surplus
a shortage
a price ceiling
a price floor
7
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market for an inferior good
Income of buyers in the market for a normal good
Number of Consumers in the market
Price of a Substitute Good
8
What will happen to price and quantity if...
Price AND Quantity Increase
Price And Quantity Decrease
Price Increases and Quantity Decreases
Price Decreases and Quantity Increases
9
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Consumer Tastes and Preferences
Consumer Expectations of Future Prices
Income of Buyers in a Market
Price of a Substitute Good
10
What will happen to price and quantity if....
Price increases and quantity decreases
price and quantity decrease
Price & quantity increase
price decreases and quantity increases
11
What will happen to the market for generic/cardboardy/non-tasty macaroni-'n-cheese dinners if..
Demand will increase (shift to the right)
Demand will decrease (shift to the left)
Quantity Demanded will for certain increase
no change in demand
12
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market
Consumer tastes and preferences
Price of a Complementary Good
Consumer expectations of of future price
13
What will happen to the market for Pizza in Tucson if 3 more Pizza shops open?
Increase in Supply
Decrease in Supply
Decrease in Demand
Increase in Demand
14
Which of the Determinants of Demand is at play here?What is shifting the demand curve?
Income of Buyers in the market
Consumer Tastes & Preferences
Price of a Complementary Good
Price of a substitute good
15
What would this situation do to price and quantity of pizza?
price would decrease and quantity would increase
price and quantity would increase
price and quantity would decrease
price would increase and quantity would decrease
16
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of buyers in the market
Price of a Substitute good
Price of of a Complementary Good
Consumer tastes & preferences
17
If three more Pizza shops open in Tucson what would be created (in the short run)?
a price ceiling
a surplus
a price floor
a shortage
18
What would happen to price and quantity if 3 more pizza shops opened?
price and quantity would decrease
price and quantity would increase
price would increase and quantity would decrease
price would decrease and quantity would increase
19
Which determinant is at play here?
Price of Resources
Income of Buyers in the Market
Price of a Related Good
Change in Technology
20
What will happen in market for snowboards if...
demand will decrease (shift to the left)
no change in demand
demand will increase (shift to the right)
Quantity Demanded will for certain decrease
21
2. What will happen to the market for hot dogs?
demand will increase (shift to the right)
Quantity Demanded will for certain decrease
no change in demand
demand will decrease (shift to the left)
22
Which determinant is at play with 3 more pizza shops opening in the Tucson market for pizza?
Price of resources
Income of Buyers
number of suppliers/producers in the maket
number of consumers/buyers in the market
23
The price of iced tea decreases. Indicate what will happen to the demand for lemonade.
Quantity Demanded will for certain decrease
no change in demand
demand will decrease (shift to the left)
demand will increase (shift to the right)
24
Which Determinant of Demand is at play here?/What is causing demand to shift?
Income of buyers in the market for a normal good
Price of a substitute good
Price of a complimentary good
Income of buyers in the market for an inferior good
25
Which Determinant of Demand is at play in this question?/What is causing the demand shift here?
Income of Buyers in the Market
Change in price of a Substitute Good
Change in Price of a Complimentary Good
Consumer Tastes & Preferences
26
What does this situation create?
a surplus
a price ceiling
a price floor
a shortage