stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Supply and Demand Flashcards | StudBud
Explore
/
Duplicate of Supply and Demand
Duplicate of Supply and Demand
15 terms
·
StudBud Administration
·
27 plays
A #Econ review on #supply and #demand
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
Price of MacBooks to decline in 2018. How would this impact the demand curve for them now?
No Change
Shift left
Shift right
2
Cost of lemons soars. How does this impact the supply of lemonade?
Shift right
Shift left
No chang
3
If there is a surplus, this is an indicator to...
Lower the price
Keep the price where it is at
Raise the price
4
Government passes a tax on tanning. How does this impact the supply of tanning beds?
Shift right
No change
Shift left
5
The Law of Supply states
As price increases, quantity supplied increases.
As price decreases, quantity supplied increases.
Price changes have no effect on quantity supplied.
As price decreases, quantity supplied decreases.
6
Giordanos, a Chicago pizza chain opens in Des Moines. How does this impact the supply of pizza?
No change
Shift left
Shift right
7
Which of the following are complementary goods?
Chips and Salsa
iPhone and Samsung Galaxy
Butter and Margarine
Skittles and M&Ms
8
How would increased income impact the demand curve?
No change
Shift right
Shift left
9
Chevy installs new technology at its factory increasing productivity. Impact on supply of cars?
Shift left
Shift right
No change
10
How would an increase in the price of fresh pears impact the demand curve for canned pears?
Shift left
Shift right
No change
11
More people buying Cubs gear after the World Series references which demand shifter?
Income
# of Consumers
Consumer Tastes
Complements
12
Gas prices expected to rise. Impact on the supply of oil.
No change
Shift right
Shift left
13
The Law of Demand States
As price increases, quantity demanded decreases.
As price increases, quantity demanded increases.
As price decreases, quantity demanded decreases.
Price changes have no effect on quantity demanded.
14
Which city would have the greater demand for fast food?
New York City
Des Moines
Chicago
Urbandale
15
If there is a shortage, this is an indicator to...
Lower the price
Keep the price the same
Raise the price
