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Duplicate of Supply, Demand, Equilibrium...SHIFTS! Flashcards | StudBud
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Duplicate of Supply, Demand, Equilibrium...SHIFTS!
Duplicate of Supply, Demand, Equilibrium...SHIFTS!
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StudBud Administration
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29 plays
This is for Coach Russell's AP Macro classes at Apopka High School.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
A drought that destroyed the potato crop would cause a(n) ________________
decrease in supply
increase in demand
increase in supply
decrease in demand
2
A price ceiling that is set below equilibrium would cause a ___________________.
shortage
supply shift
demand shift
surplus
3
Goods that you buy only when you are po are ______________ goods.
darter
inferior
superior
complement
4
If it rains hard tonight, the swim team umbrella sales should experience a ____________________
an increase in quantity supplied
increase in quantity demanded
an increase in supply
an increase in demand
5
A decrease in the price of petunias causes
a decrease in demand
an increase in quantity demanded
a decrease in quantity demanded
an increase in demand
6
Goods that "go together" like bikes and bike helmets are
inferior
superior
substitutes
complements
7
The law of demand is illustrated by a ____________-sloping curve.
sideways
downward
underwater
upward
8
There is a direct relationship between price and ______________.
substitute goods
quantity demanded
inferior goods
quantity supplied
9
The supply curve __________________
slopes upward
slopes sideways
slopes downward
is not important
10
If the price of iphones decreases, this would cause a(n) __________________.
decrease in quantity supplied
increase in quantity supplied
increase in quantity demanded
shift in demand
