BBI Supply and Demand intro

Question 1

True or False: Lower production costs decrease profits

Accepted Answer

False

Question 2

True or False: Consumer decisions do not affect the economy

Accepted Answer

False

Question 3

True or False: If demand is high, prices will go down

Accepted Answer

False

Question 4

True or False: If supply is high, prices will go down

Accepted Answer

True

Question 5

True or False: Unemployment affects demand

Accepted Answer

True

Question 6

True or False: Competition keeps prices high

Accepted Answer

False

Question 7

True or False: Knowing demand helps a business to decide how much of a good to produce

Accepted Answer

True

Questions 7