stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Hattie's Magical Demand & Supply Quiz Flashcards | StudBud
Explore
/
Hattie's Magical Demand & Supply Quiz
Hattie's Magical Demand & Supply Quiz
12 terms
·
StudBud Administration
·
56 plays
It's gonna be a quiz
Flashcards
12 cards
F
Practice quiz
P
Host live
L
Questions
12
Answers
1
What happens to the supply & demand of ice when Elsa causes Arendelle an eternal winter?
Supply increases, demand decreases
Supply increases, demand increases
Supply decreases, demand increases
Supply decreases, demand decreases
2
Why does supply & demand affect commodity markets more than normal markets?
Oaken stole all their business
Commodity markets can't differentiate so price can't change
Oaken's Trading Post & Sauna hoard all their supplies
Commodity markets have more laws surrounding them
3
What is an equilibrium?
When ice supply is equal to ice demand
Kristoff and Anna agree on the price of ice sold
When Kristoff lowers prices for Anna cuz he luvs her
A great scrabble answer #justsaying
4
Why does demand fall if prices increase?
Pabbie builds a castle of ice
People can afford a lower price
It's cheaper compared to its substitutes
Pabbie will spend more on a quality product
5
Who loves Hattie's quiz?
Frozen makes life better
No I'm boring
It's better than George & Sam's
YES SHE'S KAHOOT QUEEN
6
Elsa's having an ice themed birthday. What happens to demand and supply of ice?
Price goes up because demand is equal to supply
Elsa demands more ice so price goes down cause she's queen
Price goes up because demand is more than supply
Demand increases so supply falls
7
Why does supply increase as price increases?
It's cheaper to produce products
Oaken cancels his Big Summer Blow Out
Oaken can afford to produce more boots
Oaken wants to sell as much as possible
8
There's a heat wave. What's the effect on Kristoff's ice business?
Kristoff needs to become more competitive
Olaf melts
Demand is equal to supply
Supply can't meet demand
9
What is the law of supply?
As price increases, the quantity supplied increases
Higher supply means lower demand
Hans is banished from the kingdom
As price increases, quantity supplied decreases
10
If Elsa & Anna were Spice Girls, who would they be?
Scary Spice & Ginger Spice
Ginger Spice & Baby Spice
Posh Spice & Sporty Spice
Scary Spice & Baby Spice
11
If Arendelle all want ice, but Kristoff hasn't got much, what happens to his prices?
Stay Same
Increase
He sells Olaf instead
Decrease
12
What is a commodity?
A type of sales tax
A product that's pretty much the same whoever's selling it
The name of Kristoff's Reindeer
A raw material
