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1006GBS PASS Week 1 Flashcards | StudBud
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1006GBS PASS Week 1
1006GBS PASS Week 1
10 terms
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StudBud Administration
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85 plays
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
what causes a
shift
in the demand curve?
Operating costs
Cost of substitute product or complementary product.
Expected future prices
Price
2
On the diagram, when Supply = Demand this is called
Market Egalitarianism
Market Equilibrium
Market Equality
Market Equity
3
When the quantity supplied (Qs) is greater than the quantity demanded (Qd), this is called
Excess Supply
Excess Demand
Market Equilibrium
Supply Deficit
4
A change in demand (opposed to a change in the quantity demanded) refers to
a movement along the demand curve
a curve of the demand curve
A shift in the demand curve
A shift in the supply curve
5
A competitive market
Has a physical location
has so many buyers and sellers that no one can influence the price
Has one seller influencing the price
has more buyers than sellers
6
Did you enjoy the PASS session?
no :(
Yeah!
It was okay
It was great!
7
What is the equilibrium
quantity
in this diagram?
9
8
10
15
8
Are you coming back next Week?
Yes
No
9
Why is money important?
It's a store of wealth
All of the above
Acts as a unit of exchange
It's a measure of value
10
Why does money have value?
Because the population has agreed that it holds a given value
Because a $50 note, is worth $50 in material costs
Because it does idk
Because the Government say so.
