Supply and Demand test review

What goal is important in a market economy?

The price of fruit juice goes up. How will this affect the market forsoda?

Which of these is an example of a factor payment?

Coca cola goes out of business. How willthis affect the market for soda?

The amount that the quanitity demanded of a product changes in response to a change in price is

The price of jelly goes up. How will this affect the market for peanut butter?

TheLevi's company opens an addt'l plant in the Ukraine How will thisaffect the market for jeans

Which kind of economy is the most common?

According to the law of demand if quantity demanded is decreasing then...

Thesupply schedule shows the various amounts that

The 3 fundamental economic questionsare what to produce, __ to produce, and for whom to produce

According to the law of supply what happens as price increases?

Which of these economic goals is most important in a traditional economy

Which of these is an example of a transfer payment?

In the circular flow model what do households sell to businesses?

Which economic goal is important in a Command economy

Which of these scenarios would most likely increase the supply of soccer balls?

Demand curves can shift left or right in response to a change in

What does the term "full employment" mean?