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Demand and supply Consolidation Flashcards | StudBud

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Demand and supply Consolidation

6 terms·StudBud Administration·48 plays

Economics quiz: Demand and Supply

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Questions 6

Answers

1
Explain the likely effect of change in GST on expendi by consumers on different types of goods.
Look at Pe, Qe and TE
Look at different impact on expendi: TE increase,TE decrease
Look at one impact on expendi: TE increase OR TE decrease
Look at Pe Qe only
2
When demand increase more than the increase in supply, what is the impact on the market
Pe increase, Qe increase and TR decreases.
Pe increase, Qe Increases and TR increases
Pe increase, Qe decreases and TR indeterminate
Pe indeterminate, Qe increase and TR inderterminate
3
When demand decrease more than the increase in supply, what is the impact on the market?
Pe decrease, Qe Decrease, TR decreases
Pe increase, Qe Increases and TR increases
Pe increase, Qe decreases and TR indeterminate
Pe indeterminate, Qe increase and TR inderterminate
4
N2007 qn: When a GST tax is imposed what is the curve that shift?
supply will decrease as the tax is levied on producer
Both demand curve and supply will not shift
Demand will decrease, as there is a tax on consumption
Demand will decrease and henceforth supply will decrease
5
N2007 (your marked assignment) How will GST affect your supply curve?
rightward non parallel shift of supply curve
leftwards parallel shift of supply curve
leftward non-parallel shift of supply curve
Rightward parallel shift of supply curve
6
What is the impact on the market when increase in supply is more than the increase in demand.
Pe decrease, Qe increases, Tr increase
Pe increase, Qe Decrease, TR increase
Pe increase, Qe increase, TR increase
Pe decrease, Qe increases, Tr decrease