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INTRO TO SUPPLY Flashcards | StudBud
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INTRO TO SUPPLY
INTRO TO SUPPLY
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Questions
9
Answers
1
Starbucks was NOT affected by high coffee prices because it had a _________with suppliers.
Commodites deal
Futures contract
Tea Party
2
Measures how quantity supplied responds to a change in price.
DEMAND ELASTICITY
THIS GUY>>>>>>
SUPPLY ELASTICITY
INELASTIC SUPPLY
3
Supply comes from the perspective of the...
Seller
Buyer
Dealer
4
The amount of a good that producers are willing offer for sale at each possible price.
Law of Supply
Demand
Supply
5
The point at which demand and supply curves intersect.
Price Stabilization point
Price Equilibrium
Price Intersection
6
If consumer demand for an item goes down, sellers will...
Stop producing
Produce more goods
Produce less goods
7
As the price of a good in a time period rises or falls, the quantity of the good rises or falls
Law of Demand
Supply
Law of Supply
8
Bacon, coffee and orange juice are examples of?
Derivitives
Complements
Commodities
9
Demand comes from the perspective of the....
Dealer
Buyer
Seller
