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Consumer- Supply and Demand Flashcards | StudBud
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Consumer- Supply and Demand
Consumer- Supply and Demand
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Supply and demand for NSHS Economics
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is the correct answer?
elastic
inelastic
ideal
at equilibrium
2
What is the correct answer?
A
B
C
It cannot be determined
3
What is the correct answer?
C
A
B
It cannot be determined
4
What is the correct answer?
inelastic supply
elastic demand
elastic supply
inelastic demand
5
What is the correct answer?
substitutes
normal goods
inferior goods
complements
6
What is the correct answer?
C
B
It cannot be determined
A
7
What is the correct answer?
airline tickets
taxi rides
transportation
bus tickets
8
What is the correct answer?
looking at the slope of the demand curve
all of the above
calculating the firm's total revenue at different prices
calculating elasticity using the midpoint method
9
What is the correct answer?
an increase in the price of laptops
a decrease in the price of laptops
a decrease in the price of software (a complementary good)
a decrease in consumer incomes (laptops are a normal good)
10
What is the correct answer?
prestige
normal
substitute
inferior
