Which of the following events will cause the demand curve for hamburgers to shift to the right?

an increase in the price of pizza-a substitute for burgers

An increase in the price of gas will cause the demand curve for tires to shift which way?

to the left because gas & tires are complements

The supply curve for cars will shift to the left in response to:

an increase in wages in the car industry

If hot dogs are an inferior good, an increase in income will result in:

no change in the quantity demanded for hot dogs

Substitution Effect causes a consumer to buy less product when the price increases because the:

production is now more costly compared to similar products

A country can consume BEYOND its present PPC when it:

trades with other countries & benefits from diff opp costs

studbud

Supply & Demand

10 termsStudBud Administration922 plays

Supply & Demand Curves

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following events will cause the demand curve for hamburgers to shift to the right?
increase in the price of french fries-a burger complement
a decrease in the price of hamburgers
an increase in the price of hamburgers
an increase in the price of pizza-a substitute for burgers
2
This graph is an example of what?
Supply Curve
Demand Curve
Equilibrium
3
An increase in the price of gas will cause the demand curve for tires to shift which way?
to the left because gas & tires are substitutes
to the right because gas & tires are substitutes
to the right because gas & tires are complements
to the left because gas & tires are complements
4
The ONLY thing that will affect either Qs or Qd is:
a Shift
Inflation
Price
a Substitute
5
This graph is an example of what type of curve?
Supply Curve
Demand Curve
Equilibrium
6
This graph is an example of what type of curve?
Demand Curve
Supply Curve
Equilibrium
7
The supply curve for cars will shift to the left in response to:
an increase in the efficiency of robot technology
an increase in wages in the car industry
a decrease in the number of consumers buying cars
a decrease in consumers' income
8
If hot dogs are an inferior good, an increase in income will result in:
a decrease in the quantity demanded for hot dogs
no change in the quantity demanded for hot dogs
an increase in the quantity demanded for hot dogs
an increase in the demand for hot dogs
9
Substitution Effect causes a consumer to buy less product when the price increases because the:
consumers income has decreased
consumers income has increased
production is now more costly compared to similar products
production is now less costly compared to similar products
10
A country can consume BEYOND its present PPC when it:
experiences decreasing opportunity costs
faces an upward-sloping PPC
reduces unemployment, thus increasing output
trades with other countries & benefits from diff opp costs

Supply & Demand Flashcards | StudBud