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Demand and Supply (ATAR year 11 Cape Naturaliste College.) Flashcards | StudBud
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Demand and Supply (ATAR year 11 Cape Naturaliste College.)
Demand and Supply (ATAR year 11 Cape Naturaliste College.)
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Answers
1
What would happen to market equilibrium if Supply Decrease
Price would Decrease and Quantity would Increase
Quantity would Decrease and Price would Decrease
Quantity would Increase and Price would Increase
Price would Increase and Quantity would Decrease
2
An increase in the price of a good would increase demand
True
False
3
Price for butter falls , Demand for butter Increase
False
True
4
What would happen to Market Equilibrium if Demand Increase
Quantity would Increase and Price would Decrease
Price would Decrease and Quantity would Decrease
Quantity would Increase and Price would Increase
Price would Increase and Quantity would Decrease
5
Australia is not a planned economy
False
True
6
What would happen to Market Equilibrium if Supply Increases?
Quantity would Decrease and Price would Decrease
Price would Increase and Quantity would Decrease
Quantity would Increase and Price would Decrease
Price would Increase and Quantity would Increase
7
Which two is not a Price factor
Taxation on a good
Fall in the cost of the Factors of production
Increase in price
Decrease in price
8
A movement along the Demand curve is coursed by?
A Price factor
A Non-price factor
A fall in supply
A Increase in supply
9
A shift in the supply curve is coursed by
A Decrease in Demand
A Increase in Demand
A Price factor
A Non-price factor
10
What would there be if the price is $2.20
Surplus
Shortage
Equilibrium
11
What is the Price equilibrium in this Image?
$1.80
$1.40
$1.20
1.40
12
A Monopoly is a example of a prefect market
False
True
13
The law of Demand states that as Price Increases Demand Contracts
True
False
14
A shift in the Demand curve is coursed by
Increase in supply
A Price factor
A Non-price factor
Decrease in supply
15
A shift to the left in the supply curve is a What?
Contraction
Increase
Expansion
Decrease
16
If the price of Bikes increase the demand for skate boards would? (Give that they are substitute goods)
Not change
Supply of skate boards would decrease
Decrease
Increase
17
What would happen to Market Equilibrium if Demand Decreases
Price would Decrease and Quantity would Decrease
Price would Increase and Quantity would Decrease
Price would Decrease and Quantity would Increase
Price would Increase and Quantity would Increase
