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Laws of Supply and Demand Flashcards | StudBud
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Laws of Supply and Demand
Laws of Supply and Demand
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Supply and Demand
Flashcards
7 cards
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Practice quiz
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Questions
7
Answers
1
What is best described in the following: Everyone wanted a stuffed Olaf for the holidays.
Demand
Market
Supply
Price
2
If the supply of a good goes up, and the demand goes down, what happens to price?
Goes up
goes down
stays the same
3
If there are 3 Doc Mcstuffins Mobile Clinics for sale in Massachusetts, what is true?
Potatoes turn to gold
They are green
The market is California
The supply is 3
4
If Lebron James endorses a new sneaker, what will most likely occur?
supply goes down, demand goes down, price goes down
Supply does up, demand goes down, price goes down
Supply goes down, demand goes up, price goes up
Nothing
5
If supply of a service does down, and demand goes up, what happens to price?
Goes up
Goes down
Stays the same
6
What best describes the market for airplanes?
South of Topeka
Massachusetts
Copenhagen, Denmark
The World
7
What will NOT happen if people find out the plastic used for army men is toxic?
Price will go down
Supply will go down
Demand will go down
