As the number of sellers increase in a particular market , the supply for that market

increases and shifts to the right.

Kung Fu and boxing classes are substitutes for one another. As the price of boxing increases,

the demand for Kung Fu classes increase.

Slight differences can be found with every different brand of badminton racquets. These are

not examples of a standardized good.

Product A and product B are substitutes in production. As the price of product B increases,

the supply of product A decreases.

As the price of product A increases, the

the quantity supplied for product A increases.

If supply increases and demand decreases, then

Qe will be undetermined and Pe will decrease.

studbud

Markets

16 termsStudBud Administration776 plays

Help for the Supply and Demand Chapter

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
As the number of sellers increase in a particular market , the supply for that market
increases and shifts up.
decreases and shifts down.
decreases and shifts to the left.
increases and shifts to the right.
2
Product A is an inferior good and income increases. Product A's
demand decreases.
demand increases.
quanity demanded decreases.
quantity demand increases.
3
As supply increases,
the supply curve shifts up.
demand decreases.
the supply curve shifts left.
the supply curve shifts right.
4
Kung Fu and boxing classes are substitutes for one another. As the price of boxing increases,
the quantity demanded for Kung Fu classes decreases.
The Demand for Kung Fu classes decrease.
the quantity demanded for Kung Fu classes increases.
the demand for Kung Fu classes increase.
5
As supply increases,
demand remains unchanged.
demand increases.
demand decreases.
6
Buyers and sellers for vintage toys often meet to determine if a trade is warranted, this is an
example of a market.
example of a trade.
example for Professor Myrick to show off his love for Marvel
example of an opportunity cost.
7
Slight differences can be found with every different brand of badminton racquets. These are
not examples of a standardized good.
are examples of a standardized good.
8
Product A and product B are substitutes in production. As the price of product B increases,
the supply of product A decreases.
the supply of product A increases
the quantity supplied for product A increases.
the quantity supplied for product A decreases.
9
Product A is a normal good and income increases. Product A's
demand decreases.
quantity demanded increases.
demand increases.
quanity demanded decreases.
10
As the price of product A increases, the
the supply of product A decreases.
the supply of product A increases
the quantity supplied for product A decreases.
the quantity supplied for product A increases.
11
You are fearful of a gas shortage as a consumer. Therefore,
demand for gas increases.
demand for gas decreases.
quanity demanded for gas decreases.
quantity demanded for gas increases.
12
The price increases for product A, product A's
quantity demanded increases.
quanity demanded decreases.
demand decreases.
demand increases.
13
A price decreases for product A, product A's
demand increases.
quantity demanded increases.
demand decreases.
quanity demandeded decreases.
14
If the number of buyers increase in a particular market, that markets
Pe will increase with Qe decreasing.
Pe and Qe will increase.
Pe and Qe will decrease.
Pe will decrease with Qe increasing.
15
If supply increases and demand decreases, then
Qe and Pe will both increase.
Qe and Pe <br>will both decrease.
Qe will decrease and Pe will be undetermined.
Qe will be undetermined and Pe will decrease.
16
As resource costs increase, supply ________ causing Qe to _________ and Pe to __________.
decreases; decrease; decrease.
increases; increase; increase.
increases; increase; decrease.
decreases; decrease; increase.

Markets Flashcards | StudBud