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Supply and Demand
Supply and Demand
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StudBud Administration
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Virginia Workplace Readiness Skills for CTE courses 1-10
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
The farmers in Idaho experienced a drought; therefore, their will be a potato ____ this year.
supply
a shortage
a surplus
no change
2
If the price of cheese increases, there will be ____ of pizza.
a decrease in the supply and pizza will be more expensive
an increase in the quantity supplied
an increase in the supply
an increase in the quantity demanded
3
When prices of products go from high to low, the economy is likely experiencing ___ of product.
a shortage
supply
no change
a surplus
4
What is the name used to describe an administrative and functional structure?
principal
network
organization
company
5
A rise in the relative price of bus transport will lead to
an expansion in the supply of new cars.
a fall in demand for taxi services.
an expansion of new bus routes for customers.
a fall in the demand for new cars.
6
Income doubles & price of goods doubles, then your demand for these goods will likely
increase
decrease
shift
no change
7
___ refers to the shift toward a more integrated and interdependent world economy.
consumerism
globalization
proliferation
internationalization
8
According to this organizational chart, who does Colonel B report to?
Captain B
Sergeant A
General
Colonel A
9
In economies, when there are many buyers and only one seller, the situation is called
supply
recession
monopoly
resources
