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Supply vs Demand Flashcards | StudBud
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Supply vs Demand
Supply vs Demand
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Flashcards
26 cards
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Questions
26
Answers
1
Law of Demand states that it is the amount of goods you are willing to buy
False
True
2
Nominal goods are...
inferior products
expensive goods
normal goods
cheap goods
3
Name the logo
Footlocker
Fubu
Fifa
Fila
4
What two cellular companies were given the OK to merge?
T-Mobile and Verizon
Sprint and AT&T
Verizon and AT&T
T-Mobile and Sprint
5
The point at which you begin to see diminishing returns is the point at which you should stop hiring more workers
True
False
6
Rising prices brings competition
True
False
7
According to the "Income Effect", as prices rise...
we buy less
we spend more money
we make more money
we feel poorer
8
Name the logo
British Airways
Airbnb
Boeing
Apple TV
9
Informative ads do not tell you the downside to the product, with the exception of...
cars
computers
medicine
athletic apparel
10
What did the government force auto manufacturers to put into cars in 1970 that reduced supply?
airbags
seatbelts
exhaust pollutant technology
anti-lock brakes
11
Looking at the Demand curve from left to right, which direction does the line go?
down
backwards
up
in a circle
12
Which of these is not a type of advertising we discussed?
Informative
Brand
Entertaining
Persuasive
13
Name the logo
Hasbro
Mattel
Walmart
Amazon
14
What type of advertising does the military use?
Informative
Persuasive
Entertaining
Brand
15
Which of these is NOT an example of a variable expense?
Rent
Electricity Bill
Heating Bill
Grocery Bill
16
Looking at a supply curve from left to right, what direction does it go?
down
straight down
up
round and round
17
Name the logo
Timex
Tesla
Texaco
Toyota
18
If adding an employee gives you 12 more units/hour, but the cost went up by $36, the marginal cost is
$36
$0.33
$3.00
12
19
Which of these is something the government provides that HELPS businesses
Regulations
Subsidies
Taxes
Subtle
20
Name the logo
Buble
Burger King
Beats
Bluejays
21
What event caused a demand shift in daycares, diapers, schools, etc.?
Roe v. Wade decision
Baby boom
9/11 attacks
Vietnam War
22
Puffery is illegal
False
True
23
Logos are an example of what type of advertising strategy?
Persuasive
Brand
Comparative
Informative
24
Typically food production is not very elastic. Why?
Rubber is not very nutricious
Cost is too cheap
People are lazy
Food takes a while to produce
25
Name the logo
Gatorade
Google
Greensboro Bolts
Georgia Lightning
26
What tax is added to cigarettes to discourage you from buying them?
Sales Tax
Cancer Tax
the Disgusting Tax
Excise Tax
