Which would be a likely cause of an increase in the price of pizza?

a health report showing eating pizza reduces stress

Which economic change best explains a reduction in coffee prices?

improved technology for commercial production

Which best describes the relationship b/w price & quantity demanded shown by the demand curve?

there's an inverse relationship bw price & quantity demanded

Which statement best supports the shift demonstrated in this graph?

An increase in price of sugar reduces supply of ice cream

Which statement best explains the movement from S1 to S2 shown on this graph?

technological improvements in production

Which statement best describes the relationship between supply and demand?

A product w/ high demand & low supply = increase in price

What will be the state of the market if peanuts are sold for $5 per pound?

There will be a 30,000-pound surplus.

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Supply and Demand

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supply and demand

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Questions 11

Answers

1
Which would be a likely cause of an increase in the price of pizza?
an decrease in the price of cheese, a complement
a decrease in the price of hamburgers, a substitute food
a decreased interest in take-out and fast-food dining
a health report showing eating pizza reduces stress
2
When the quantity demanded for a product is less than the quantity supplied, the market
has a shortage of products
is in equilibrium
price is too low
has a surplus of products
3
Which term replaces this question mark?
Supply
Consumption
Fixed Costs
Marginal Benefit
4
Which economic change best explains a reduction in coffee prices?
adoption of tariffs on imported goods
improved technology for commercial production
increased need for subsistence farming
rapid wage increases for factory workers
5
Which best describes the relationship b/w price & quantity demanded shown by the demand curve?
as the product's price falls, consumers buy less of the good
there's an inverse relationship bw price & quantity demanded
theres an indirect relationship bw price & quantity demanded
as a product's price rises, consumers buy less other goods
6
Which statement best supports the shift demonstrated in this graph?
A decrease in frozen yogurt price increases ice cream supply
A decrease dairy products cost increases supply of ice cream
An increase in price of sugar reduces supply of ice cream
Increase in frozen yogurt price decreases ice cream supply
7
Which statement best explains the movement from S1 to S2 shown on this graph?
an increase in workers’ salaries
a decline in the production of a substitute good
higher costs for natural resources
technological improvements in production
8
Which statement best describes the relationship between supply and demand?
A product w/ high demand & low supply = increase in price
A product w/low demand & high supply = no change in price
A product w/low demand & low supply = an increase in price
A product w/high demand & high supply = a decrease in price
9
The amount of a good/service that consumers are willing to buy at a particular price:
quantity demanded.
personal savings.
final product.
marginal utility.
10
What will be the state of the market if peanuts are sold for $5 per pound?
There will be a 30,000-pound shortage.
There will be a 60,000-pound surplus.
There will be a 30,000-pound surplus.
There will be a 60,000-pound shortage.
11
What does the point of intersection shown on this graph represent?
equilibrium
opportunity cost
elasticity
marginal production

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