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Supply and Demand 2
Supply and Demand 2
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Supply and Demand determinants
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which would NOT cause the supply curve to shift?
a change in resource costs
a change in technology
a change in the prices of goods made with the sameresources
a changein the price of the good
2
A freeze in Peru causes the price of coffee toskyrocket. Which of the following willhappen?
The demand for coffee rises, and thedemand for tea falls.
Quantity of coffee demanded falls and demand for tea rises.
The quantity of coffee demanded and the demand for tea rise.
The demand for coffee and quantity demanded for tea fall.
3
A decrease insupply means:
less will be demanded at every price.
a shift to the left of the entire supply curve.
moving downward (to the left) along the supply curve.
more will be supplied at every price
4
Other things constant, a decrease in the sales price ofjelly beans would cause a move:
from B to A
from A to B
from S to S1
from S1 to S
5
Which of the following wouldcause an increase in the demand for eggs?
Consumers expectthe price of eggs to drop in the future.
None of these would increase the demand foreggs.
The price of bacon, a complement,rises.
The price of eggs drops.
6
One event below would NOT shift the demand curve for beef. That one is:
a change in peoples’ tasted with respect to beef.
an increase in the money incomes of beef consumers.
A popular advertising campaign bythe producers of chicken)
a fall in the price of beef.
7
A sharp
decrease
in the cost of
labor
in the sugar and jelly bean factory would cause a move:
from S to S1
from A to B
from B to A
from S1 to S
8
Which of the following is NOT a determinant ofdemand (does NOT shift the demand curve)?
a change in resource costs
a change in the price of complements
a change in income
a change in tastes
9
An increase in supply of a good is caused by:
a fall in the price of the good.
seller expectations of future price increases.
resource prices rising.
an increase in the number of sellers.
10
The development of more efficient computer software to make Pixar animates films will cause:
a decrease in the quantity of Pixar animated films demanded.
a rise in the price of tickets to Pixar animatedfilms.
an increase in the supply of Pixar animated films.
an increase in the quantity of Pixar animatedfilms supplied.
