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Supply and Demand Flashcards | StudBud
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Supply and Demand
Supply and Demand
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1
We predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?
The demand for AC will go down.
The demand for AC will go up.
2
When the supply for a good is high, its price ____.
goes up
does not matter
goes down
does not change
3
A drought has made this year's tomato harvest smaller than usual. What will happen to the supply of tomato sauce?
The supply will go down.
The supply will go up.
4
The weather has been great and farmers have largest crop of watermelons in years. What will happen to the price?
The price of watermelon will go up.
The price of watermelon will go down.
5
At the Super Bowl, people see the star quarterback drinking apple juice. What may happen to the price of apple juice?
The price of apple juice may go up.
The price of apple juice may go down.
