It would be the best time to buy a bathing suit

The reason Lebron James makes more money than Mr. Nikoletos is that

There is only one Lebron James and all the teams want him.

Why do gas prices always increase at the start of a long weekend?

There is more demand for driving

If you owned a business that sold laptops, the best time to increase the price would be

During the months of August and September

The price of oranges increases, this will result in orange juice being

more expensive and less being bought

there is more demand than supply

The price of a good will

change because of a change in demand or supply

helps businesses organize resources correctly

Based on the picture of this cherry tree

The price of strawberry pies would increase

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Demand and Supply review

15 termsStudBud Administration117 plays

A review of demand and supply

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Questions 15

Answers

1
If you expect the price of gas to increase tomorrow, then today you should expect the
Demand to increase
Supply to increase
Demand to decrease
Supply to decrease
2
Based on the picture
It would be the cheapest time to travel to Jamaica
It would cost the least to heat your home
It would be the best time to buy a bathing suit
It would be the best time to buy skis
3
Demand represents the
Consumer
Suppliers
Government
Producer
4
Once you start selling cookies for the day, if you are left with 30 cookies at 3:00 o'clock
This is called a shortage
You get to eat them
This is called a surplus
You should let Mr.. Nikoletos eat them
5
The reason Lebron James makes more money than Mr. Nikoletos is that
Lebron James dresses better than Mr. Nikoletos
There is only one Lebron James and all the teams want him.
Lebron James is taller than Mr. Nikoletos
Mr. Nik is unique but there are other teachers just as good.
6
Why do gas prices always increase at the start of a long weekend?
There is more demand for driving
There is less gas available
There is less demand for gas
There is more supply of gas
7
If you owned a business that sold laptops, the best time to increase the price would be
During the months of February and March
During the months of June an July
There is no good time to increase the price
During the months of August and September
8
The price of oranges increases, this will result in orange juice being
Less expensive
the same price
more expensive and less being bought
More expensive
9
Based on the picture
consumers are worried there will be a surplus the good
there is more demand than supply
Mr. Nikoletos must be giving a lecture
the product being sold has more supply than demand
10
If the price of apples increases, you expect to see the
Supply of pears decrease
Demand for pears to increase
Supply of pears to increase
Demand for pears decrease
11
The price of a good will
never change
change because of a change in demand
change because of a change in demand or supply
change because of a change in supply
12
Which of the diagrams indicate a decrease in demand.
B
C
D
A
13
Which of the diagrams indicate a decrease in supply.
A
D
B
C
14
Demand and supply
helps businesses organize resources correctly
is not important for consumers
is a very difficult topic
is important for consumers but not businesses
15
Based on the picture of this cherry tree
The price of strawberry pies would decrease
The price of cherry pies would not change
The price of cherry pies would decrease
The price of strawberry pies would increase

Demand and Supply review Flashcards | StudBud