One of the following is not a determinant of Supply:

# of consumers, Price of other goods

During a recent snow/ ice storm, the demand for netflix

increase due to an increase in consumer taste

If the price of hot chocolate increases,

The demand for hot tea increases

If the price of sleds increases,

The demand for snow suits decreases

The demand and supply schedule shows:

The same information as a supply and demand graph

An increase in the price of pizza will lead to an increase in which of the following?

the demand of calizones (substitute)

The Law of Demand says that :

As price goes up, quantity demanded goes down

During a power outage during a storm, the demand for candles

increases to consumer preferences

studbud

Supply & Demand

23 termsStudBud Administration1,671 plays

Introductory review of supply and demand changes

Flashcards23 cardsFPractice quizPHost liveL

Questions 23

Answers

1
Which of the following would increase demand for a normal good? A decrease in:
Price of a Substitute
Price of a Complement
Income
Price
2
One of the following is not a determinant of Supply:
# of consumers
# of sellers
technology
Price of other goods
3
The Law of Supply is
An inverse relationship
A direct relationship
based on consumers behavior
says that when price goes up, demand goes down
4
Marshmallows and hot chocolate are:
No relationship
Substitutes
Inferior Goods
Complements
5
During a recent snow/ ice storm, the demand for netflix
increase due to an increase in consumer taste
decreased due to a lack of preference
decreased
increased to an increase in supply of netflex
6
If the price of hot chocolate increases,
The demand for marshmallows is unchanged
The demand for hot tea increases
The demand for marshmallows increases
The demand for ice cream increases
7
How many of Jersey Mike's Subs a person demands depends on:
How long the line is.
The price of cokes
The price of the Subs
How good the french fries are
8
One of these things is not like the others
# of Consumers
Preferences
Price of Complements
Technology
9
For many people, Spam is a
a substitute
normal good
a complement
an inferior good
10
The following is a determinant of Demand
# of Suppliers
Taxes
Subsidies
Income
11
If the price of sleds increases,
The demand for snow suits decreases
The demand for snow suits increases
The snow sharks eat more kids
Price does not change demand, so no change
12
A change in Price causes a change in :
# of Consumers
Substitutes
Quantity Demanded
Demand
13
After a heavy snowfall, the demand for snow shovels
The quantity demanded increased
increase
decrease
The quantity supplied increased
14
The magic point where supply and demand connects is
a price floor
equilibrium
a price ceiling
Adam Smith land
15
The demand and supply schedule shows:
Profit of loss of a business
Price that everyone would pay
The same information as a supply and demand graph
Demand prices and quantities, but not supply
16
A decrease in the price of butter would most likely decrease the demand for:
jelly
syrup
margarine
bagels
17
A change in Price causes a change in
quantity supplied
Technology
Supply
Demand
18
The following is not a determinant of Demand
Taste
Technology
Price of Substitutes
# of Consumers
19
An increase in the price of pizza will lead to an increase in which of the following?
the supply of pizza
the demand for flour
the supply of coca cola
the demand of calizones (substitute)
20
An increase of wages will lead to a:
increase in Supply
an increase in Demand
decrease in Demand
Increase quantity demanded
21
The Law of Demand says that :
As Price goes up, quantity demanded remains the same
As price goes up, the quantity supplied goes up
As price goes up, quantity demanded goes down
As price goes up, quantity demanded goes up
22
A decrease in the price of peanut butter would most likely increase the demand for
Electricity
Ham
Coffee
Jelly
23
During a power outage during a storm, the demand for candles
increases due to income, normal goods
decrease, due to inferior goods
increases to consumer preferences
decreases due to consumer preferences

Supply & Demand Flashcards | StudBud