Exploring Shifts in Supply and Demand (CIE3M)

Question 1

With respect to the market for apples, news that the price of apples WILL rise in a week would:

Accepted Answer

increase demand

Question 2

With respect to the market for Ontario apples, a new fertilizer that increases output would:

Accepted Answer

increase supply

Question 3

With respect to the market for Ontario apples, an increase in the population of Ontario would:

Accepted Answer

increase demand

Question 4

With respect to the market for Ontario apples, an increase in the value of Ontario land would:

Accepted Answer

decrease supply

Question 5

With respect to the market for Ontario apples, news that apples are high in pesticides would:

Accepted Answer

decrease demand

Question 6

With respect to the market for Ontario apples, a decrease in the price of oranges would:

Accepted Answer

decrease demand

Question 7

With respect to the market for Ontario apples, the advent of new apple-picking machines would:

Accepted Answer

increase supply

Question 8

With respect to the market for Ontario apples, an early frost that killed apples buds would:

Accepted Answer

decrease supply

Question 9

With respect to the market for Ontario apples, an increase in the cost of fertilizer would:

Accepted Answer

decrease supply

Question 10

With respect to the market for Ontario apples, news that apples reduce heart failure would:

Accepted Answer

increase demand

Questions 10