A shift to the left of the demand curve could be due to a

rise in the price of compliments

All of the following will cause a shift of the demand curve for a good except

a change in the price of the good

An increase in the price of Snickers will result in a(an)

contraction in demand for Snickers

If tea and coffee are substitute goods, a rise in the price of coffee would:

Cause demand for tea to increase.

A normal good is defined as a good for which demand increases as

the income of consumers increase

The law of demand states that:

As price increases demand contracts.

How will a decrease in the price of hot dogs affect hamburgers?

demand will decrease and price will decrease

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Supply and Demand Quiz

17 termsStudBud Administration2,854 plays

effects of price, supply, demand using real-world (sort of) examples. #supplydemand #shortage #surplus

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Questions 17

Answers

1
Which of the following is not a non-price factor affecting demand?
Advertising and Media
Income
Technology
Population
2
What might cause an increase in the demand for Fuzzy Wuzzys?
injuries to small children and pets swallowing Fuzzy Wuzzys
advertising for Fuzzy Wuzzys
increase in the price of Fuzzy Wuzzys
more substitutes for Fuzzy Wuzzys
3
Which of the following is not a factor affecting demand?
Number of sellers
Trends and Preferences
Income
Price
4
A shift to the left of the demand curve could be due to a
fall in the quantity supplied
fall in the price of the good
rise in the price of compliments
rise in the price of substitutes
5
How will a decrease in average income affect demand for clothing from Myer?
demand will expand
demand will contract
demand will decrease
demand will increase
6
All of the following will cause a shift of the demand curve for a good except
a change in the price of the good
a change in the price of a closely related good
a change in income
a change in preferences
7
An increase in price of hot dogs means decrease in demand for mustard. They must be
complimentary goods
independent goods
substitute goods
delicious
8
An increase in the price of Snickers will result in a(an)
contraction in demand for Snickers
decrease in demand for Snickers
expansion in demand for Snickers
decrease in supply of Snickers
9
Which of the following will NOT cause the demand curve for product A to shift?
increase in consumer income
change in the price of A
change in price of B a compliment
change in the price of C, a substitute
10
If tea and coffee are substitute goods, a rise in the price of coffee would:
Cause demand for tea to increase.
Cause the demand for tea to expand.
Cause demand for tea to contract.
Cause supply of tea to increase.
11
An increase in the price of a product will cause
demand to decrease
demand to contract
supply to contract
supply to decrease
12
A normal good is defined as a good for which demand increases as
its price decreases
the price of substitutes increases
the number of consumers of the good increases
the income of consumers increase
13
If the price of hamburgers decreases, the demand for hot dogs will
expand
increase
remain unchanged
decrease
14
The law of demand states that:
As demand increases, supply increases.
As price increases demand decreases.
As price increases demand contracts.
As price increases demand expands
15
Which of the following would be considered complements?
bread and butter
coffee and tea
coke and pepsi
oranges and apples
16
If the price of apple pie increases, the demand for ice cream (a compliment) will
be unchanged
increase
decrease
increase and decrease at the same time
17
How will a decrease in the price of hot dogs affect hamburgers?
demand will increase and price will increase
demand will decrease and price will increase
demand will increase and price will decrease
demand will decrease and price will decrease

Supply and Demand Quiz Flashcards | StudBud