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Unit 3 supply everything Flashcards | StudBud
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Unit 3 supply everything
Unit 3 supply everything
9 terms
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StudBud Administration
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759 plays
eco demand and supply
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
What is the key economic problem facing everyone?
scarcity
lack of skills
money
lack of time
2
Which factor below would lead to a decrease in supply?
subsidy is introduced
increased government regulations
price decrease
costs decrease
3
Hurricane Katrina wiped out oil refineries in the US. What happened to the market for gas?
Demand curve shifts inward
supply curve shifts outward
Supply curve shifts inward
Demand curve shifts outward
4
What factor below would lead to an increase in supply of broccoli?
costs increase
floods
price decreases
new harvesting machine
5
When the cupcake shop closed in Doylestown, what happened to the market for cupcakes?
supply curve shifts outward
Demand curve shifts inward
Supply curve shifts inward
Demand curve shifts outward
6
Lumber prices increase, what will happen to the market for new houses?
Supply curve shifts inward
Demand curve shifts outward
supply curve shifts outward
Demand curve shifts inward
7
What happens to supply of french fries when government imposes a tax on fatty foods?
QS decreases
QS increases
decreases
shifts riight
8
McDonald's pays for college for its employees. What will happen to the market for new Big Macs?
Supply curve shifts inward
Demand curve shifts outward
Demand curve shifts inward
supply curve shifts outward
9
A pet grooming boutique opens in Doylestown. What will happen to the market for pet grooming?
supply curve shifts outward
Demand curve shifts outward
Demand curve shifts inward
Supply curve shifts inward
