Home Library Explore SAT

Home Library Explore SAT

ECO162 Flashcards | StudBud

Explore/ECO162

ECO162

10 terms·StudBud Administration·20 plays

A#quiz#for preparation #for final exam #presentation#boat noodle

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
which is the definiton of supply
the ability to pay for a good at a given price and time
willingness of ability to sell a quantity of good on time
total amount of a good that all the seller will offer
total amount of good that all buyers would choose
2
What are the advantage of maximum price@ceiling price
consumers pay lower price
consumers pay higher price
the excess stock has to dispose
wastage occurs
3
Below are factors that influence the change in supply, EXCEPT
Government taxes
Technology
Price itself
Weather
4
The following statement are price elasticity of demand except:
time
complementary goods
easier to find subtitute good
risk taking
5
which of the following statement below is TRUE stated the determinants of demand
taxes, price of inputs,technology ,subsidies
income, price of other good,taste and taxes
choice,oppurtunity cost,income, taxes
income ,expectation, technology,taxes
6
What are the factor that influence change in quantity demanded for goods
price of goods itself
price of substitute goods
expectation of future price
price of related goods
7
what are the PPC diagram for boat noodle
linear
convex
dont have a diagram
concave
8
Boat Noodle is categorized:
inelastic demand,elastic supply
elastic demand, inelastic supply
9
all of them are basics economics concepts except:
oppurtunity cost
scarcity
choice
taxes
10
what type of price elasticity of supply below
inelastic supply
elastic supply
perfectly inelastic
unitary