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Demand , Supply and Eqilibium Flashcards | StudBud

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Demand , Supply and Eqilibium

10 terms·StudBud Administration·1,901 plays

A Quiz about the first 1.5/5 part of Mr Meadows' arranged lessons (supply and Demand)

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Questions 10

Answers

1
What happens to the price when "supply decreases with constant (unchanging) demand"?
The price decreases
The supply decreases
The price increases
The price stays the same
2
What is the definition of "effective demand"?
The consumers are more willing to buy the product again
The consumers are willing and able to pay for the product
The consumers are more likely to be company/brand loyal
The consumers are more likely to pay for a product
3
What is the definition of "Supply"?
The goods that the consumers can buy or bargain
The goods the consumer are willing and can buy
The amount of goods that the company can supply at a price
How many goods the company has in total
4
Demand looks at the price from the point of view of the _________ ?
Decomposers
Buisness
Consumers
Producers
5
What is the gradient of supply?
An upward gradient
A positive gradient
A left gradient
A negative gradient
6
What is the gradient of demand?
A right gradient
A downwards gradient
A negative gradient
A positive gradient
7
What is the definition of "Demand"?
Quantity of goods brought at a price over a period of time
Quantity of goods that consumer can and are willing to buy
Quantity of goods
8
What does producers want the most?
POWER!!!!
PROFIT!!!!
FAME!!!!
MONEY!!!!
9
Which what will happen to the price when the "demand rises with excess supply"?
The price stays the same
The demand rises
The price will increase
The price will decrease
10
Supply Looks at the price setting view from the point of ________ ?
Autotrophs
Heterotrophs
Buisness
Consumers