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Supply and Demand Flashcards | StudBud
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Supply and Demand
Supply and Demand
26 terms
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#highschooleconomics
Flashcards
26 cards
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Questions
26
Answers
1
Which of the following could explain the change shown on this graph?
Government creates new pollution taxes
New technology is found
Tornados destroy Oklahoma
Price is expected to increase next week
2
What would happen to Eq and Ep if demand for a substitute decreased?
Eq decrease Ep increase
Eq decrease Ep decrease
Eq increase Ep decrease
Eq increase Ep increase
3
When there is excess supply there is a...
Shortage
Surplus
4
Decrease in demand causes
Eq increase Ep increase
Eq decrease Ep decrease
Eq decrease Ep increase
Eq increase Ep decrease
5
Which of the following could explain the change shown on this graph?
New technology is found
Increase the number of sellers
Increase in minimum wage
Decrease in resource costs
6
What would happen to Eq and Ep if the government started offering production subsidies?
Eq increase Ep decrease
Eq increase Ep increase
Eq decrease Ep decrease
Eq decrease Ep increase
7
Increase in supply causes
Eq increase Ep decrease
Eq decrease Ep decrease
Eq decrease Ep increase
Eq increase Ep increase
8
What would happen to Eq and Ep if the American population decreased 50%?
Eq decrease Ep decrease
Eq decrease Ep increase
Eq increase Ep decrease
Eq increase Ep increase
9
An increase in income would cause...
Supply to increase
Demand to decrease
Supply to decrease
Demand to increase
10
An increase in the price of a complement would cause...
Supply to decrease
Demand to decrease
Supply to increase
Demand to increase
11
A massive flood would cause...
Supply to increase
Demand to increase
Demand to decrease
Supply to decrease
12
Decrease in supply causes
Eq increase Ep increase
Eq decrease Ep increase
Eq decrease Ep decrease
Eq increase Ep decrease
13
As price goes up, the quantity goes down is the...
Law of Supply
Law of Demand
14
What would happen to Eq and Ep if resource costs increased?
Eq decrease Ep increase
Eq increase Ep decrease
Eq increase Ep increase
Eq decrease Ep decrease
15
This graph is depicting a(n)...
Decrease in demand
Increase in demand
Decrease in supply
Increase in supply
16
This graph is depicting a(n)...
Decrease in supply
Decrease in demand
Increase in demand
Increase in supply
17
As price goes up, the quantity goes up is the...
Law of Demand
Law of Supply
18
This graph is depicting a(n)...
Increase in demand
Decrease in demand
Decrease in supply
Increase in supply
19
This graph is depicting a(n)...
Increase in supply
Decrease in demand
Increase in demand
Decrease in supply
20
Increase in demand causes
Eq increase Ep increase
Eq decrease Ep increase
Eq increase Ep decrease
Eq decrease Ep decrease
21
Which of the following could explain the change shown on this graph?
Increase in American income tax
Increase in the price of a complement
Decrease in the price of a substitute
Increase the number of buyers
22
When there is excess demand there is a...
Shortage
Surplus
23
Expectations of lower price next week would cause...
Supply to increase
Demand to decrease
Demand to increase
Supply to decrease
24
New technology would cause...
Demand to decrease
Supply to decrease
Demand to increase
Supply to increase
25
The amount of work completed in a period of time is called...
Productivity
Work
Production
None of these answers are correct
26
Which of the following could explain the change shown on this graph?
New products become available
Price is expected to decrease next week
More people get jobs
Minimum wage is increased
