Supply and Demand Basic Quiz Prep

What happens if a terrible infestation of locusts destroys potato crops?

If national income decreases by 20%, which of the following happens to sales?

If the price of ice cream goes down and cake sales go up these are what?

When demand shifts left

When supply shifts right

What is it called where the supply meets the demand

If the market is above equilibrium we have a what?

If companies suddenly start to make more peanut butter

Which direction does a curve shift to indicate decrease?

Which of the following will not affect supply?

Tvs will be cheaper after Xmas, how does that effect the market today?

The price of tacos goes up, a taco restaurant makes more tacos. This is an example of

If we have a shortage we have more

The reason electricity shifts the least is because it is the least

What will we see the least change in quantity demanded with an increase in price?

Which of the following would not shift the demand curve for chicken?

In the market for acorns: walnuts, a substitute has dropped in price.