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Supply & Demand Flashcards | StudBud
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Supply & Demand
Supply & Demand
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StudBud Administration
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Checking for understanding regarding shifts in supply and demand
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
It was determined that the elasticity coefficient for Spotify Premium accounts is 4.3. What is the elasticity?
Elastic
Unitary
Inelastic
Perfectly Elastic
2
A vaccine for COVID-19 would have which of the following types of demand?
Elastic
Unitary
Inelastic
Perfectly Inelastic
3
Bow ties are becoming 'hip' fashion over traditional ties. What is the effect in the market?
Decrease in Demand
Increase in Supply
Decrease in Supply
Increase in Demand
4
Many smokers are turning to e-cigarettes. What is the market effect for tobacco cigarettes?
Increase in Demand
Increase in Supply
Decrease in Demand
Decrease in Supply
5
Today McDonald's is offering free coffee. What is the market effect for Tim Horton's?
Decrease in Supply
Decrease in Demand
Increase in Supply
Increase in Demand
6
Oil prices are increasing. If revenue for Shell increases as well, what can we say about the elasticity?
Inelastic
Perfectly Inelastic
Elastic
Unitary
7
Severe drought has hit California, which is the primary producer of almonds. Impact on market?
Decrease in Supply
Decrease in Demand
Increase in Supply
Increase in Demand
8
What will happen to the iPhones market if Apple decides all Apps will be free from now on?
Decrease in Supply
Increase in Supply
Decrease in Demand
Increase in Demand
9
It is expected that winter will be here soon. What is the market effect for snowboots?
Decrease in Demand
Increase in Supply
Increase in Demand
Decrease in Supply
10
What will be the market effect on Daycare if the government provides a 'daycare rebate'?
Increase in Demand
Increase in Supply
Decrease in Supply
Decrease in Demand
