Other things equal, when the price of good X falls, the

quantity supplied of the good X decreases

Demand decreased, as shown below. The resulting change to equilibrium price and quantity is

Price decreased and quantity decreased

Demand increased, as shown in the graph. The change to price and quantity is

Price increased and quantity increased

Supply increased, as shown in the graph. The resulting change to price and quantity is

Price decreased and quantity increased

The shifting curve below illustrates

an increase in the number of suppliers

Supply decreased, as shown in the graph. The change to price and quantity is

Price increased and quantity decreased

An event that could cause the shifting curve below is

an increase in the price of a complement

an event that could cause the shift in the curve below is

an increase in the price of a substitute

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Demand and Supply Review

13 termsStudBud Administration37 plays

Identify the causes and effects of shifting curves

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Questions 13

Answers

1
What will happen in a market if there is a surplus?
price will rise
nothing
price will fall
quantity will increase
2
Which of the following is NOT a determinant of demand?
income
expectations
tastes
price
3
Other things equal, when the price of good X falls, the
quantity supplied of the good X increases
quantity supplied of the good X decreases
supply of good X decreases
supply of good X increases
4
Demand decreased, as shown below. The resulting change to equilibrium price and quantity is
Price decreased and quantity increased
Price decreased and quantity decreased
Price increased and quantity increased
Price increased and quantity decreased
5
The market clearing price is also known as the
set price
taken price
moderated price
equilibrium price
6
Which of the following is NOT a determinant of supply?
government tools
income
technology
input prices
7
Demand increased, as shown in the graph. The change to price and quantity is
Price increased and quantity decreased
Price decreased and quantity decreased
Price decreased and quantity increased
Price increased and quantity increased
8
Supply increased, as shown in the graph. The resulting change to price and quantity is
Price increased and quantity increased
Price decreased and quantity increased
Price increased and quantity decreased
Price decreased and quantity decreased
9
The shifting curve below illustrates
an increase in the price of a substitute
an increase in the price of the good
an increase in the number of suppliers
an increase in input prices
10
Supply decreased, as shown in the graph. The change to price and quantity is
Price increased and quantity increased
Price decreased and quantity decreased
Price increased and quantity decreased
Price decreased and quantity increased
11
An event that could cause the shifting curve below is
an increase in input prices
a decrease in the price of the good
an increase in the price of a complement
an increase in the price of a substitute
12
an event that could cause the shift in the curve below is
an increase in supply
an increase in the price of a substitute
a decrease in an input price
an increase in the price of a complement
13
The shifting curve below could be caused by
An increase in input prices
A decrease in input prices
A decrease in the number of consumers
A decrease in the price of a complement

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