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Miss Attard's Markets, Demand and Supply Flashcards | StudBud
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Miss Attard's Markets, Demand and Supply
Miss Attard's Markets, Demand and Supply
10 terms
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StudBud Administration
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A quiz on the demand and supply curve and factors that effect them as well as the makret system.
Flashcards
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Questions
10
Answers
1
What can affect supply?
tax
change in technology
income
The Cost of Production of a product.
2
If supply is high and demand is low, what could happen to the product?
The market could not grow.
Decrease in price.
Not be purchased.
Decrease in value.
3
Supply refers to which player in the market?
Buyer
Manufacturer
Investor
Seller
4
What does
Ceteris Paribu
s mean?
All products are for sale.
All other things being equal.
All things being equally priced.
All things being available.
5
Which is an example of a market?
Warner Bros
Amazon
eBay
Disney
6
What is supply in economics?
the amount of goods that buyers are willing to buy
how much of something there is
The amount of goods that are available to purchase.
7
What does demand refer to in economics?
The amount of people there are
The amount of people willing to pay for a product.
the amount of goods
The demand for something
8
Demand refers to which player in the market?
Buyers
Owners
Investors
Sellers
9
When demand is high and supply is low, what typically increases?
Price of the product
Supply of the product
Inflation
Fear in the market
10
If a product is a limited edition, what does this suggest about the price?
The price could be very high.
The price could be low.
It might be unnecessarily expensive.
It is available for a short period of time.
