EC-011 Posttest

Employees is responsible for researching potential demand for brand-new product. What factor will affect the demand?

Orlando changes the price of one of his products,and this price change leads to a major change this mean demand is is

People often buy goods and services in order to maintain the quality of life and general living conditions what is this

The quantity of a good or service that producers are able and willing to offer for sale at a specified price

Which of the following is a factor affecting a product’s utility to the individual customer:

When the price of Bluetooth speakers increases, the quantity of Bluetooth speakers offered for sale will increase.

Which of the following is characteristic of a seller’s market:

Which of the following might cause supply of a good to decrease:

The price of complementary products has an effect on

Which of the following describes inelastic demand:

Most businesses strive to supply goods and services in direct proportion to

Marc wants to figure out how much changes in price will affect his business’s sales, so he pays attention to

One reason why the supply of certain products has been eliminated is because of

A local neighborhood has many houses for sale at a low price, but demand for the houses is low. What is the Market?

Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. This is an example

When less expensive substitutes for a product are readily available, then demand for that product is likely to be more

Demand for a good is more likely to be elastic when the good is

Your firm is producing a new product what could prevent the company from producing this product?

Jeremy has 15,000 to spend on a new car. The car is only worth 12000. Does demand for this car exist?

What might businesses do if they expect prices to increase substantially in the future?

Which of the following determines whether consumers can purchase goods or services:

Your business is selling more and more large-screen televisions each month. What will happen with the price and supply?

Which of the following factors may influence supply:

Gas prices increased by 15 cents a gallon but you still continue to by gas. This is an example of what type of demand?