Economics Unit 2 Review

What situation does this graph show?

A computer company can make twice as many chips as before with the same resources, causing

What situation does this graph show?

Government gets rid of regulations on chemical plants causing widespread pollution and

News footage airs for several days showing riots across America, causing

How will an increase in the price of pencils affect the market for pens?

A large increase in the number of babies would cause

The government enacts regulations on the pesticides used to grow corn, causing

The cost of chicken increases causing

Parachute pants become fashionable again, taking everyone by surprise, causing

What situation does this graph show?

All human workers on Ford's assembly line are replaced with robots causing

A change that affects consumer behavior (except a change in a product's price) could cause

The cost of making batteries decreases causing

Vintage Furbies become a new fad among hipsters causing

Taxes are increased on makers of less fuel efficient cars

If prices are too high what will result?

The fact that price and quantity supplied have a positive relationship is

The fact that price and quantity demanded have an inverse relationship is the

What type of goods are cell phones & cell phone cases?

If prices are too low what will result?

What situation does this graph represent?

What situation does this graph show?

Consumers expect Samsung's S8 phones early release due to problems with the S7 phone, causing

Widespread fear of government mind control beam conspiracies would cause

The price at which the market will be in equilibrium

What branch of Economics studies small scale interactions?

What situation does this graph represent?

A graph showing prices and the quantity demanded at those prices is a

How would an increase in the price of cell phones affect the sales of cell phone cases?

News stations in Nederland heavily advertise the possibility of floods next week causing

An event that affects producers' behavior (except for a just change in price) can cause

The economy is doing particularly well leading consumer income to rise, causing

What type of goods are pens and pencils?

Russia has millions of soldiers die in WW3 fighting North Korea, causing in Russia

The point on the supply & demand model where quantity supplied is equal to quantity demanded

A table showing prices and quantity supplied at those prices is the

A change in price will cause

The government increases taxes on makers of sugary foods causing

A payment from the government to produce more of a product would be a

Which of the following would not cause a change in demand?

What is demand?

What type of Economics studies the large scale overall economy and economic systems?

The economy takes a nose dive into recession causing consumer income to drop and

Putting supply & demand on the same graph to predict prices & quantities is the

A graph showing prices and the quantity supplied at those prices is a

The extra usefulness that buying one more of an item provides is

Heavy advertising for Snuggies would cause

Businesses expect that next year consumers will want to watch fewer superhero movies causing

A table showing prices and quantity demanded at those prices is the