A place or situation where buyers and sellers meet

The Market 1.4 Flashcards

1

Inc/Dec In Supply or Demand - Coke - A major increase in children with Sugar related problems

Increase in Supply
Decrease in Demand
Increase in Demand
Decrease in Supply

2

What is the difference between QD and Demand

Price vs Non Price Factors
Shifts vs Non Price Factors
Prices vs Shifts
Movements vs Prices

3

Outdated technology leads to huge delays!!

Increase in Supply
Decrease in Supply
Decrease in Demand
Increase in Demand

4

Factors that shift Demand are?

Tastes/Pref/Fashion/Income/Comps/Subs
Tastes/Pref/Income/Comps/Subs
Pref/Fashion/Income/Comps/Subs
Pref/Fashion/Income/Comps/Tastes

5

The Acronym for Changes in Supply are?

PETROL CC
TICS
PETRL CC
PETROL DD

6

Inc/Dec In Supply or Demand - Market for Coke - increase in the price of Pepsi

Decrease in Demand
Decrease in Supply
Increase in Demand
Increase in Supply

7

What is the formula for a Surplus

QS>QD
QS/QD
QD>QS
D=S

8

Explain where equilibrium occurs?

S=D
S=G
S=E
D=C

9

Who is supply about?

Producers
Households
Government
Consumers

10

What is the tax that consumers pay?

GST
P.A.Y.E
Business Tax
Company Tax

11

With an increase in Costs of Production is the a shortage or a surplus

Surplus
Shortage

12

Define the Market

A situation where producers and consumers trade goods
A place or situation where buyers and sellers meet
A situation where buyers and sellers meet
A place where buyers and sellers meet

13

Imported raw materials go up in price!

Decrease in Demand
Decrease in Supply
Increase in Supply
Increase in Demand

14

Inc/Dec In Supply or Demand - A major disaster destroys Cadbury's factory.

Dec Supply
Dec Demand
Inc Demand
Inc Supply

15

What is the Formula for a shortage?

QS=QD
QS=QD1
QD>QS
QS>QD

The Market 1.4

Questions 15

The Market 1.4

Questions 15