Home Library Explore SAT

Home Library Explore SAT

Duplicate of Supply and Demand Review Flashcards | StudBud

Explore/Duplicate of Supply and Demand Review

Duplicate of Supply and Demand Review

4 terms·StudBud Administration·5 plays

The basics of supply and demand to review before the quiz tomorrow!

Flashcards4 cardsFPractice quizPHost liveL

Questions 4

Answers

1
This demand determinant is...
Price expectations.
Tastes or preferences of buyers.
Income of buyers.
The price of a good or service.
2
If margarine is on sale, what happens to butter? Determine the demand shift direction.
The demand curve shifts to the left.
The demand curve shifts to the right.
Nothing happens to demand for butter.
market equilibrium is reached.
3
High-waisted shorts are now of out style. What happens to the demand curve for these shorts?
The curve shifts to the right.
Market equilibrium is achieved.
It remains the same.
The curve shifts to the left.
4
What is market equilibrium?
not ideal for a market or business
the amount of goods or services in a market
When the quantity supplied is equal to the quantity demanded
A consumer's willingness or desire to buy a product