Ceteris Paribus means...

All other things held constant.

Which of the following will occur if the price of soap increases?

The demand for hand sanitizer will increase.

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Supply and Demand

15 termsStudBud Administration835 plays

#economics #supply #demand #curveshifting

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Questions 15

Answers

1
Cell phones and cell phone chargers are examples of what kind of goods?
Unrelated
Substitute
Complementary
Elastic
2
What is the most basic economic problem?
The shortage of goods
The lack of skills
The lack of money
Scarcity
3
A change in quantity supplied/ demand is a result of...
a shift in the curve.
a change in a determinant.
the government.
a change in price.
4
The supply curve is...
leftward.
downward sloping.
rightward.
upward sloping.
5
Lisa gets a substantial raise. Which of the following goods will she consume less of?
Complementary
Substitute
Inferior
Normal
6
Which Factor of Production would a factory building fall under?
Human Capital
Land
Physical Capital
Labor
7
Producers will increase quantity if there is...
a rise in consumer income.
a change in perception.
a decrease in price level.
an increase in price level.
8
An increase in Demand is illustrated by...
movement up the demand curve
a demand shift to the right
movement down the demand curve
a demand shift to the left
9
Which of the following would a salary fall under?
Profit
Variable Costs
Revenue
Fixed Costs
10
Ceteris Paribus means...
Goods used in place of another.
All other things held constant.
Consumer desire.
Anticipation of supply.
11
If there is an increase in government regulation of pizza-making, then
demand will decrease.
demand will increase.
supply will increase.
supply will decrease.
12
Which of the following will occur if the price of soap increases?
The demand curve for soap moves to the right.
The demand curve for hand sanitizer moves to the left.
The demand for hand sanitizer will increase.
The demand for soap will increase.
13
The Law Demand states that as price increases, quantity
Defaults to Supply
Remains Unchanged
Decreases
Increases
14
Limited resources causes what kind of decision?
Decision at the margin
Trade-off
Scarcity
Opportunity cost
15
A change in quantity demanded is the result of a change in...
Government Policy
Taste and Preferences
Number of Buyers
Price

Supply and Demand Flashcards | StudBud

Supply and Demand

15 termsStudBud Administration835 plays

#economics #supply #demand #curveshifting

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Cell phones and cell phone chargers are examples of what kind of goods?
Unrelated
Substitute
Complementary
Elastic
2
What is the most basic economic problem?
The shortage of goods
The lack of skills
The lack of money
Scarcity
3
A change in quantity supplied/ demand is a result of...
a shift in the curve.
a change in a determinant.
the government.
a change in price.
4
The supply curve is...
leftward.
downward sloping.
rightward.
upward sloping.
5
Lisa gets a substantial raise. Which of the following goods will she consume less of?
Complementary
Substitute
Inferior
Normal
6
Which Factor of Production would a factory building fall under?
Human Capital
Land
Physical Capital
Labor
7
Producers will increase quantity if there is...
a rise in consumer income.
a change in perception.
a decrease in price level.
an increase in price level.
8
An increase in Demand is illustrated by...
movement up the demand curve
a demand shift to the right
movement down the demand curve
a demand shift to the left
9
Which of the following would a salary fall under?
Profit
Variable Costs
Revenue
Fixed Costs
10
Ceteris Paribus means...
Goods used in place of another.
All other things held constant.
Consumer desire.
Anticipation of supply.
11
If there is an increase in government regulation of pizza-making, then
demand will decrease.
demand will increase.
supply will increase.
supply will decrease.
12
Which of the following will occur if the price of soap increases?
The demand curve for soap moves to the right.
The demand curve for hand sanitizer moves to the left.
The demand for hand sanitizer will increase.
The demand for soap will increase.
13
The Law Demand states that as price increases, quantity
Defaults to Supply
Remains Unchanged
Decreases
Increases
14
Limited resources causes what kind of decision?
Decision at the margin
Trade-off
Scarcity
Opportunity cost
15
A change in quantity demanded is the result of a change in...
Government Policy
Taste and Preferences
Number of Buyers
Price