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Microeconomics (Supply, Demand & Equilibrium) Flashcards | StudBud

Explore/Microeconomics (Supply, Demand & Equilibrium)

How is the relationship according to the law of demand?

What happens with the demand if the price rises?

Microeconomics (Supply, Demand & Equilibrium)

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Questions 8

Answers

1
What happens with the demand if the price rises?
it goes up
it rises
it decreases
it stays the same
2
How is the relationship according to the law of demand?
elastic
inverse
scarce
direct
3
What is involved in the equilibrium?
price
all of them
market
quantity
4
What does microeconomics analyze?
individual elements of politics
all the elements of society
individual elements of an economy
resources of a country
5
What happens with the supply if the price of a product rises?
the supply falls
the supply decrease
the supply is the same
the supply increases
6
How is the curve of the price and the supply?
the curve never changes
inverse
it is ALWAYS lineal
direct
7
What happens when the price and quantity is the same?
There is none equilibrium
All of the other answers
There is equilibrium
Nothing happens
8
Microeconomics studies the behavior of:
small economic units
big economic units
large economic units
special economic units