The Law of Demand says that:

As price goes up, quantity demanded goes down

An increase in the price of pizza will lead to an increase in which of the following?

the quantity supplied of pizzas

During a recent snow/ ice storm, the demand for Netflix

increased due to an increase in consumer taste

If the price of sleds increases,

The demand for snow suits decreases

If the price of hot chocolate increases,

The demand for hot tea increases

During a power outage, the demand for candles

increases due to consumer preferences

Demand is downward sloping due to :

The income and substitute effects

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Supply & Demand 2A

23 termsStudBud Administration360 plays

Introductory review of supply and demand changes

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Questions 23

Answers

1
The following is not a determinant of Demand
Price of a Substitute Good
Technology
Number of Consumers
Tastes
2
The Law of Demand says that:
As price goes up, quantity demanded goes up
As price goes up, quantity demanded goes down
As price goes up, quantity supplied goes up
As price goes up, demand goes down
3
A change in Price causes a change in
Supply
Quantity supplied
Technology
Demand
4
The quantity of Subway subs a person demands depends on:
The price of Coke
How long the line is
The price of the Subs
How good the french fries are
5
An increase in the price of pizza will lead to an increase in which of the following?
the demand for flour
the quantity supplied of pizzas
the supply of pizza
the supply of coca cola
6
Marshmallows and hot chocolate are:
Inferior Goods
No relationship
Complements
Substitutes
7
One of these things is not like the others
Technology
Price of a Complementary Good
Number of Consumers
Tastes and Preferences
8
After a heavy snowfall, the ___________ for snow shovels
demand increases
demand decreases
quantity demanded increases
quantity supplied increases
9
One of the following is not a determinant of Supply:
Price of other goods
Technology
Number of sellers
Number of consumers
10
During a recent snow/ ice storm, the demand for Netflix
increased to an increase in supply of Netflix
increased due to an increase in consumer taste
decreased due to a lack of preference
decreased
11
The following is a determinant of Demand
Number of Producers
Subsidies
Income
Taxes
12
An increase of wages will lead to a(n):
decrease in Supply
decrease in demand
Increase quantity demanded
increase in Supply
13
The point where supply and demand intersect is called:
Detroit
equilibrium
shortage
surplus
14
If the price of sleds increases,
The demand for snow suits decreases
The demand for snow suits increases
The snow sharks eat more kids
Fewer sleds will be produced
15
The Law of Supply is
says that when price goes up, demand goes down
based on consumers behavior
An inverse relationship
A direct relationship
16
If the price of hot chocolate increases,
The demand for marshmallows increases
The demand for hot tea increases
The demand for marshmallows is unchanged
The demand for ice cream increases
17
A decrease in the price of peanut butter would most likely increase the demand for
Ham
Coffee
Electricity
Jelly
18
During a power outage, the demand for candles
increases due to consumer preferences
decreases, due to inferior goods
decreases due to consumer preferences
increases due to subsidies
19
Which of the following would increase demand for a normal good? A decrease in:
Price of a Complement
Price of a Substitute
Income
Price
20
A decrease in the price of butter would most likely decrease the demand for:
margarine
bagels
syrup
jelly
21
Demand is downward sloping due to :
The substitute and complement effects
The income and substitute effects
Increasing opportunity cost
Inferior and normal goods
22
For many people, Spam is a(n)
normal good
complement
substitute
inferior good
23
A change in Price causes a change in :
Substitutes
Demand
Number of Consumers
Quantity Demanded

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