Want a Sprite Cranberry?

Question 1

Lebron James stars in an advertisement about Sprite cranberry. The demand rises because of ____

Accepted Answer

tastes/trends

Question 2

Many people want jobs in order to buy Sprite Cranberry. This is an example of _____

Accepted Answer

change in demand

Question 3

Mrs. Miller receives a raise. Her _____ increases, increasing demand for Sprite Cranberry.

Accepted Answer

income

Question 4

Big Gov wants to make money. They impose a $2 tax on each can. The EQ _____ while the EP ______

Accepted Answer

decreases, increases

Question 5

During the holidays, the supply and demand of Sprite cranberry increase. This is due to ______.

Accepted Answer

expectations

Question 6

The Law of Demand states that price and quantity vary _______

Accepted Answer

inversely

Question 7

There is a sale on Sprite Cranberry at Walmart. This is an example of...

Accepted Answer

change in quantity demand

Question 8

If the supply of Sprite cranberry increases, the supply curve _________

Accepted Answer

shifts right

Question 9

If the sale price of sprite cranberry decreases, there is a resulting _____ on the demand curve

Accepted Answer

movement

Question 10

Which of the following statements is true?

Accepted Answer

As population increases, demand for a product will increase.

Question 11

The price of cranberries decreases significantly. This is an example of _______

Accepted Answer

change in supply

Question 12

There is a long drought, ruining much of the cranberry harvest. The price of SC rises...

Accepted Answer

because of cost of inputs

Question 13

The Sprite factory burns down. The supply of the drink drastically decreases due to ______.

Accepted Answer

unexplained circumstances

Question 14

Coca-cola now allows workers to take 1 Sprite cranberry for every 100 they bottle. This...

Accepted Answer

leads to an increase in productivity

Question 15

Everyone now drinks SC with Christmas dinner. If both ham and SC decrease in price...

Accepted Answer

ham and SC are complements

Question 16

Pepsi makes their own version of sprite cranberry called Cranberry Mist, increasing the _______

Accepted Answer

number of sellers in the market

Question 17

Lebron James invents a more efficient way to bottle Sprite Cranberry just to flex on Trump...

Accepted Answer

this improves technology and increases supply

Question 18

Walmart lowers the price of Sprite cranberry by $1 due to its decreasing popularity. This is

Accepted Answer

change in quantity supplied

Question 19

The Law of Supply states that price and quantity vary ______

Accepted Answer

directly

Question 20

Sprite cranberry sells out quickly, so the price is raised. Demand for Sprite cherry ________.

Accepted Answer

will increase because Sprite Cherry is a substitute.

Question 21

If the demand for Sprite cranberry decreases, the demand curve _______

Accepted Answer

shifts left

Question 22

SC is elastic. As the price of SC increases, the demand will _______.

Accepted Answer

decrease

Questions 22