Why do prices go down when consumers start saving their money?

Consumers become less willing to spend money

What might happen if the demand for a new type of sneaker began rising quickly?

The sneaker company would raise the price of sneakers

According to the laws of supply and demand, when will companies produce more of a product?

When they sell it for a higher price

What is likely to happen if the price of a new pair of sneakers went up?

Demand for sneakers would decrease

What factor is most likely to cause an increase in demand for a new type of automobile?

A commercial in which the car is endorsed by a celebrity

When do we say that the market has "cleared?"

When supply and demand balance out

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Supply and Demand

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Brainpop Quiz on supply and demand

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Questions 9

Answers

1
Which condition would lead to the highest prices?
high supply, low demand
Low supply, high demand
High supply, high demand
Low supply, low demand
2
Why do prices go down when consumers start saving their money?
Demand for goods begins to outpace supply
Consumers become less willing to spend money
Manufacturers start producing fewer products
Demand for currency goes up as people begin saving
3
Who would set the equilibrium point for the price of a new type of sneaker?
Neither A nor B
The manufacturer
Either A or B
The consumer
4
What might happen if the demand for a new type of sneaker began rising quickly?
The sneaker company would lower the price of the sneakers
People would refuse to pay more money for the sneakers
The manufacturer would begin making fewer sneakers
The sneaker company would raise the price of sneakers
5
According to the laws of supply and demand, when will companies produce more of a product?
When they sell it for a higher price
When the economy turns downward
When demand decreases
When the price people will pay for it goes down
6
Which of these is neither a good nor a service?
A piano lesson
A $20 bill
A gallon of gasoline
A meal at a restaurant
7
What is likely to happen if the price of a new pair of sneakers went up?
Demand for sneakers would increase
Merchants would begin offering sales on the sneakers
Demand for sneakers would decrease
It would be impossible to find a pair of shoes
8
What factor is most likely to cause an increase in demand for a new type of automobile?
A commercial in which the car is endorsed by a celebrity
A rumor that the car's gas tank is prone to explosion
The price of the car going up
A comedian making fun of the car on TV
9
When do we say that the market has "cleared?"
When supply and demand balance out
When demand outpaces supply
When supply outpaces demand
When consumers begin saving their money

Supply and Demand Flashcards | StudBud