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Demand and supply Flashcards | StudBud
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Demand and supply
Demand and supply
8 terms
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StudBud Administration
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#Demand #Demand graph #Supply #Supply graph
Flashcards
8 cards
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Questions
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Answers
1
The price of a substitute good decreases. The most likely effect of this is:
A contraction in demand for the other good.
An increase in demand for the other good.
A decrease in demand for the other good.
An expansion in demand for the other good.
2
An increase in supply is shown as:
A shift of the supply curve to the left.
An expansion along the supply curve (to the right).
A shift of the supply curve to the right.
A contraction along the supply curve (to the left).
3
An increase in demand could be caused by:
All of the other answers.
Expectations of buyers.
A change in tastes and preferences.
An increase in population.
4
The price of a complementary good rises. The effect of this may be:
A decrease in demand for the other good.
An expansion in demand for the other good.
No change to the market for the other good.
An increase in demand for the other good.
5
This graph illustrates:
A decrease in demand
A contraction in supply
An expansion in supply
A contraction in demand
6
This graph demonstrates:
An increase in quantity.
An expansion in demand.
An increase in demand.
An increase in the quantity demanded.
7
The most likely effect of an increase in technology is:
An expansion in demand.
An expansion in supply.
An increase in supply.
An increase in demand.
8
A contraction in demand could be caused by:
A decrease in the number of sellers in the market.
All of the other answers.
An increase in price.
Changes in tastes and preferences.
