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Supply and Demand shifters Mrs R econ class Flashcards | StudBud
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Supply and Demand shifters Mrs R econ class
Supply and Demand shifters Mrs R econ class
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review for econ quiz on supply and demand shifters mrsreconclass mrs r econ class
Flashcards
25 cards
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Questions
25
Answers
1
the law of demand:
as price increases so does quantity demanded
as price increases quantity demanded decreases
as price increases so does demand
2
The iPhone 6S is released, how will this affect the iPhone 6?
demand for iphone6 increases
supply iphone6 decreases
demand iphone6 decreases
supply iphone6 increases
3
A huge drought wipes out grapes, how will the affect the supply of grape jelly?
supply decreases
supply increases
no change
4
Due to the drought, farmers are given a subsidy for water. What happens to lettuce?
supply decreases
demand decreases
demand increases
supply increases
5
The price of replacement lead decreases, what happens to mechanical pencils?
demand decreases
supply decreases
supply increases
demand increases
6
The price of tacos increases. How will this affect the demand for burgers?
no change
increases demand
decreases demand
7
New craze breaks out for wearing headbands
demand increases
demand decreases
supply increases
supply decreases
8
Tourists flock to Tahoe to ski this winter, how does this affect lift tickets?
supply increases
demand decreases
supply decreases
demand increases
9
There is a sale on hotdog buns. How does this affect hot dogs?
demand increases
supply decreases
demand decreases
supply increases
10
There will be a sale on Xbox systems next week, what happens this week?
demand increases
demand decreases
11
new technology makes the production of toilet paper faster
demand increases
supply decreases
demand decreases
supply increases
12
HNES families head to Mexico for a vacation, what happens to hotel rooms in Mexico?
demand decreases
supply decreases
demand increases
supply increases
13
a change in price
is a move along the curve
affects demand
shifts the curve
14
new studies show that green tea is good for your health
supply decreases
supply increases
demand increases
demand decreases
15
The willingness and ability of producers to sell a good at a given price
demand
supply
16
the cost of toothbrushes increases, what happens to toothpaste
supply increases
supply decreases
demand decreases
demand increases
17
all of the following will shift a demand curve except
change in cost of inputs
change in number of consumers
change in the price of a complimentary good
change in tastes
18
workers at Pier Park receive higher wages, what happens to designer sunglasses?
demand increases
supply increases
demand decreases
supply decreases
19
a new pizza shop opens in town, now there are two
supply increases
demand increases
supply decreases
demand decreases
20
a new tax is added to cigarette production
supply decreases
demand increases
supply increases
demand decreases
21
The new McDonalds burns down. What happens to hamburgers?
supply decreases
demand decreases
supply increases
demand increases
22
it is discovered that eating red meat helps you loose weight
supply decreases
demand decreases
demand increases
supply increases
23
It's discovered that VW has been illegally smogging cars. What happens in the market 4 Hondas?
supply increases
demand decreases
demand increases
supply decreases
24
all of the following will affect supply except
change in gov. regulation
change in technology
change in cost of inputs
change in number of consumers
25
government increases the taxes farmers must pay, what happens to strawberries
supply decreases
demand increases
supply increases
demand decreases
