Economics Final Review - Unit 2 - Supply/Demand

In the GCHS Cafe, Snickers and the Cafe Cookies are...

An example of substitute goods are

When the e-coli outbreak hit Chipotle restaurants...

Which of the following is the best example of a fixed cost?

When then government sets a minimum price lower than the equilibrium price...

Cars and gasoline are

Fast food workers demand and receive a pay raise to $15/hour, we can expect...

Moving from point "A" to point "B" is a...

When the government put a $1,000 tax on every unit of pollution produced...

At Culvers, cheese curds and french fries are...

The equilbrium quantity for this graph is...

Pizza and tacos are 

All other things being equal, when the price of a good decrases...

An example of complementary goods would be

Rent - $100 Advertising - $25 Each pizza costs $5 to make and sells for $20. You sell 50 pizzas. What is your profit?

In the GCHS Cafe, Cafe Cookies and Milk are...

If the price of McDonalds hamburgers increases then the

At McDonalds, Coke and a double cheeseburger are...

When there are more sellers than buyers a ________ occurs in the market

When there are more buyers than sellers a ________ occurs in the market

Which represents a variable cost

With this price floor there will be

When then government sets a minimum price higher than the equilibrium price there is a 

All other things being equal, when the price of the good goes down...

All other things being equal, when the price of a good rises...

Which of the following scenarios would cause the change depicted in the graph above?

This picture indicates

When then government sets a maximum price lower than the equilibrium price there is a 

Which of the following scenarios could cause the change depicted in the graph?

Snapchat and Twitter are

All other things being equal, when the price of the good goes up...

Which of the following would most likely cause a shift from D1 to D2?

The side of the market that deals with the consumption of goods and services is...

The equilbrium price for this graph is...

The government sets a minimum price on corn at price P2. What has this created, and what will it lead to in the market?

The side of the market that deals with the production of good and services is...