Supply and Demand Test Review

Millions of people immigrate to the U.S., how would the demand curve for normal goods shift?

Copper deposits around the world diminish. Which way would the supply curve shift?

What says when price increases quantity decreases?

Which graph shows the price of soda increasing, which is a complementary good to jelly beans?

Which graph pictured best shows the price of sugar increasing?

This picture is an example of a _________.

The government pays farmers to grow corn. This is known as a ______.

_____ is determined by the interaction of supply and demand.

Steel prices rise. How will this impact the auto industry?

Which graph shows widespread prosperity allowing people to buy more jelly beans?

T/F: If there is a decrease in demand or supply the curve will shift to the left.

Which graph shows the govt. placing a tax on imported jelly beans which have a large market?

What is the necessary costs of producing a good?

Which graph shows the price of bubblegum (sub for jelly beans) increasing?

If the price of a product increases but the quantity demanded remains unchanged, demand is ___?

Income drops for the third month. What is the impact on filet mignon?

Pork prices drop, what does this do for chicken?

Income taxes are reduced by 20%, how will this impact demand of large screen TVs?

What says as price increases quantity increases?

Price of iPhones drop from $900 to $800, what is the impact on quantity demanded?

When demand and supply meet it is known as ______.

T/F: This graph shows price dropping and moving along the demand curve.

T/F: If there is an increase in either demand or supply the curve will shift to the right.

New robot technology increases efficiency in auto factories. How will the supply curve shift?

Recently cost of plastics has been reduced. What would happen to the supply curve?

If price of milk increases, what is the impact on cereal?

Which graph shows a machine being invented that makes jelly beans at a lower cost?