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Supply & Demand Determinants
Supply & Demand Determinants
20 terms
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StudBud Administration
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2,192 plays
What determines whether the supply or demand curve will shift?
Flashcards
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Questions
20
Answers
1
Who sets the price in a free market economy?
Buyer and Seller
The Price Wizard
The Tribal Leaders
The Government
2
1975 law required cars to run on unleaded fuel, production of lead cars stops.
Demand Curve Shift Right
Supply Curve shift Right
Demand Curve Shift Left
Supply Curve shift Left
3
New robots make cars faster and cheaper will shift the?
Demand Curve
Supply Curve
4
Concession stands at the movie theater during the holidays when new movies are released.
Demand Curve - Complementary Goods
Demand Curve - Number of Consumers
Demand Curve - Substitutes
Demand Curve - Consumer Income
5
Music labels stop making Cd's, Sony announces they no longer will make CD players.
Supply Curve Shifts Left
Demand Curve Shifts Left
Supply Curve Shifts Right
Demand Curve Shifts Right
6
The amount of a product producers are willing to sale at different prices.
Demand
Supply
7
The number of wireless companies decreases and Verizon and AT&T merge to form one company.
Demand Curve - Consumer Expectations
Demand Curve - Number of Consumers
Supply Curve - Government Policy
Supply Curve - Number of Sellers
8
Government subsidizes farmers to grow soy beans.
Supply Curve - Numer of Sellers
Demand Curve - Consumer Expectations
Supply Curve - Subsidies
Demand Curve - Substitute
9
Batteries and flashlights are?
Change in technology
Complimentary Goods
Subsitutes
Consumer Income
10
Volkswagen stops making car trucks to focus on sedans and magic buses.
Supply Curve for car trucks shifts Right
Supply Curve for car trucks shifts LEFT
11
All government employees get a 10% raise and cry let's go shopping!
Consumer Expectations
Consumer Employment
Consumer Taste
Consumer Income
12
When people reach for the Coke instead of Pepsi because of a sale.
Consumer Taste
Consumer Expectations
Substitute
Complementary Good
13
The amount of a product or services consumers are willing to buy at different prices.
Demand
Supply
14
Change in the price of factors of production?
Demand Curve
Supply Curve
15
When the demand increases we shift the demand curve?
Left
Right
16
We use the equilibrium to help us find the?
Supply and Demand Curves
Market Price
Price Axis
Quantity Supplied
17
Change in consumer taste for products like silly bandz become the new fad?
Demand Curve Shifts Left
Demand Curve Shifts Right
Supply Curve Shifts Right
Supply Curve Shifts Left
18
When the supply of a gas is low we shift the supply curve?
Left
Right
19
Hurricane Ian headed for Atlantic Coast, flashlight sales up!
Demand Curve - Consumer Expectations
Demand Curve - Number of Consumers
Demand Curve -Consumer Tastes
Demand Curve - Compliments
20
The demand for diapers went up with record high new babies this past month.
Consumer Tastes
Substitutes
Number of Consumers
Number of Sellers
