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Recap Supply and Demand Flashcards | StudBud
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Recap Supply and Demand
Recap Supply and Demand
11 terms
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StudBud Administration
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37 plays
Economics, supply, demand
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
What is on the x axis of a supply or demand graph
Money
Quantity
Price levels
Real gdp
2
This graph shows that.....
Supply is decreasing
Demand is decreasing
Demand is increasing
Supply is increasing
3
If the government increased income taxes, what effect would this have?
Decrease demand
Increase both supply and demand
Increase demand
Increase supply
4
The demand curve is sloping upwards to the left
False
True
5
Which of the following does NOT Shift Demand
Higher Customer Service
Trends and fashion change
Increasing production methods
Reputation decreases
6
When the supply curve shifts outwards, how does it affect price and quantity
quantity increases
both increase
quantity decreases
price increase
7
What is on the y axis of the supply or demand graph
Quantity
Money
Price
Real gdp
8
If the price of making cars goes down, the demand curve will shift to the right
False
True
9
Which of the following DOES NOT shift supply
A new company being opened
Increase in technology
More workers being hired
Increase in advertising
10
Which type of graph is this
Supply
Aggregate supply
Aggregate demand
Demand
11
The relationship between price and quantity on a demand curve is _________ related
Positively
Directly
Not
Inversely
