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Supply And Demand Review Flashcards | StudBud
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Supply And Demand Review
Supply And Demand Review
17 terms
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A quick review quiz of supply and demand.
Flashcards
17 cards
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Practice quiz
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Questions
17
Answers
1
The law of demand says:
Demand does not change based on supply.
As the price of goods decrease,producers may offer less.
Asthe price of services decrease, buyers may purchase more.
2
What would happen to the supply of toothpaste if toothpasteworkers go on strike?
The supply of toothpaste would increase
The supply of toothpaste would be the same, we need it
The supply of toothpaste would decrease
3
What would happen to the demand for video games if the priceis reduced by 50%?
The demand would be the same
The demand would go up
The demand would go down
4
What would happen to the supply of spinach if it is proven thatspinach reduces acne?
The supply would be the same
The supply would decrease
The supply would increase
5
What would happen to the supply of strawberries if a winterfreeze damages the crop?
The supply of strawberries would increase
The supply of frozen strawberries would decrease
The supply of strawberries would go down
6
What would happen to the price of diamonds if diamonds could be produced in any chemistry lab?
The price of diamonds would increase
The price of diamonds would be unchanged
The price of diamonds would decrease
7
What would happen to the supply ofpaper if a huge brush fire destroys the western forests?
The demand for firefighters would increase.
The supply of paper would drastically decrease.
The supply of paper would increase greatly.
8
What would happen to the demand for spearmint gum ifresearch said each gum stick increasesI.Q.?
The demand would increase
The demand would decrease
The demand would be the same, whats an I.Q.?
9
What would happen to the price of hamburgers if too manybeef cattle are slaughtered?
The price of a hamburger would be the same,we just sell more
The price of hamburgers would go up before the beef spoils.
The price of a hamburger would decrease.
10
What would happen to the price of pizza if tomatoes becamescarce due to bug blight?
The price of pizza would decrease
Nobody would buy pizza anyway because of bugs
The price of pizza would increase
11
What would happen to the price of name brand sneakers ifthey lost their celebrity endorsement?
The price would be the same
The price would spike higher
The price would go down
12
What would happen to the demand for in-line skates if a newroller park opens in your area?
The demand would decrease, ew rollerskating.
The demand would increase, I wanna rollerskate!
The demand would stay the same, people won't be affected.
13
What would happen to the demand for bicycles priced at $500if the price is doubled?
The demand would go down
The demand would go up
The demand would be unchanged
14
What would happen to the price of strawberries if a winterfreeze damages the crop?
The price of strawberries would be the same
The price of strawberries would go up
The price of strawberries would go down
15
The law of supply says:
As the price of goods increases,buyers may purchase less.
Supply is niiiiiice.
Asthe price of goods increase, producers may offer more.
16
What would happen to the price of gasoline if a syntheticsource is discovered?
The price of gas would decrease
The price of gas would soar through the roof
The price of gas would stay the same,people still need it
17
What would happen to the price of PC's (currently $2000) if companies introduce cheaper models?
The price of PC's will go down because of competition.
The price of PC's will increase because of competition.
The price would stay the same, competition doesn't matter.
