Demand, Supply and the Market Equilibrium Quiz

What term describes a restriction on importing or harvesting a good?

Rennie p184 6a: What letter represents the price of beef and lamb increasing?

Rennie p183 5a: Which letter represents a decrease in demand ? 

Rennie p180 Q2a What is the new equilibrium quantity?

What term describes a tax placed on imports?

An increase in productivity leads to an ____________in price and ___________ in quantity

Rennie p183 5a: Which letter represents new technology in coal mining? 

Which of the following is not a demand determinant? 

Rennie p184 -6a : What letter matches a subsidy?

Income tax is a _______________ tax and a ______________ determinant 

Rennie p186. What is the market supply for crayfish at $60

Rennie p186: What is the market demand for crayfish at $60

GST means Goods and ______________ Tax and is a ___________________ determinant 

Rennie p183 Q5 - What letter represents an increase in coal miner's wages?

Rennie p183 5b - Decrease in cost of extraction = a ______________ at price______________

Which is not a supply determinant?

Market Supply is the horizontal sum of all firms Demand curves

Unions win on ___________ rise _______________costs of production

When there is a decrease in demand both price and quantity ________________

What term describes a payment to firms from government that lowers costs of production

Rennie p184  6b- at what price will there be neither a surplus or a shortage?