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Economy: Supply and Demand Flashcards | StudBud

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Economy: Supply and Demand

10 terms·StudBud Administration·135 plays

#Economy

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Questions 10

Answers

1
If it cost $500 more, starting now for Gucci Belts to be made, Suppliers would ...
Supply Less
Supply More
2
What would something very inelastic mean in economics?
Big fluctuation in Demand when Price changes
Little fluctuation in Demand when Price changes
Big fluctuation in Price when Demand changes
Little fluctuation in Price when Demand changes
3
If you are selling things at a garage sale you have...
Supply
Baby Clothes
Old and Broken Things
Garbage
4
What is Demand?
How much is being sold
Consumer's desire and ability to buy a good or service
Someone yelling with their fist in the air
Business's desire to sell goods and services
5
What is the name for this Graph?
Blue and Green Lined Graph
Supply and Demand Graph
Price and Quantity Graph
A Normal Graph
6
We all know that Pepsi is a ___ ___ to Coca Cola
Substitute Good
Flatter Taste
Interior Good
Rip-Off
7
Milk would be a good product to place near this because it is a...
Good source of Kalcium
A Seasonal Good
Good source of Vitamin E
A Complementary Good
8
What is the Law of Supply?
Price ↑ = Demand ↓
Price ↑ = Quantity ↓
Price ↑ = Quantity ↑
Price ↑ = Demand ↑
9
If the cookie monster goes on a diet what would happen to the demand for "Chips Ahoy!"?
It drops
It raises
10
What would something very elastic mean in economics?
Little fluctuation in Demand when Price changes
Big fluctuation in Demand when Price changes
Little fluctuation in Price when Demand changes
Big fluctuation in Price when Demand changes