Econ Unit 2

The demand for Xbox One drops when PlayStation4 drops in price...

Economic recession = less people buying luxury goods...what's the impact on demand?

If the prices of gasoline goes down, how does this affect the demand for cars?

The point at which the supply and demand curve meet

Acid washed jeans are BACK

Which of the following goods has inelastic supply?

According to the law of supply, as price goes up...

Golden State jerseys have increased in demand. Why?

Which of the following are complementary goods?

Which of the following would be considered complementary goods?

Which of the following goods has inelastic demand?

If the price of pens goes up, how will this affect demand for pencils?

When planning a trip to Spain, you decide to wait because plane tickets are cheaper in the fall

Facebook headquarters decides to relocate to Dearborn. Which impact on demand is this?

If the new iPhone is dropping in six months, what type of impact on demand is this for the 7?

This table tells us how many of a product people are willing to buy at different prices

This refers to how quickly the quantity supplied can change when price changes

When demand for a good changes with price changes, this product has...

According to the law of demand, as price goes up...

Which of the following goods are examples of substitute goods?

This refers to how changes in prices affect how much of a good/service people want

Which of the following are examples of substitute goods?