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Supply & Demand Flashcards | StudBud
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Supply & Demand
Supply & Demand
8 terms
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StudBud Administration
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512 plays
An #economics Quiz that reviews aspects of Supply & Demand
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
Which of the following would move a SUPPLY curve for Playstation 4's to the right?
Customers are willing to pay more for a Playstation 4
XBOX releases their new console at a discounted price
An exciting new VR experience is available for PS4
A earthquake effects Sony operations in Japan
2
Which of the following would move the supply curve for Disney moves to the left?
Disney buys the rights to the Harry Potter series
Disney remasters more of their original movies
Disneyland is damaged when an earthquake hits L.A.
Consumers are willing to pay more for Disney toys
3
How do you determine profit?
Quantity x Revnue
Cost + Revenue
Revenue + Quantity
Revenue - Cost
4
This is the amount of a good or service that producers are willing and able to offer
Equilibrium
Demand
Producer Ratio
Supply
5
The amount of a good or service that consumers are willing and able to buy is known as...
Equilibrium
Supply
Demand
Taxes
6
Which of the following would move a demand curve for sushi to the left?
An increase in the production of crab in the pacific
A shortage of tuna in the Pacific
A student gets sick at a local restaurant
A new Japanese restaurant opens in town
7
Which of the following would move a demand curve for In N Out to the right?
In N Out offers free fries with each burger
In N Out debuts a new flavor of milkshare
In N Out increases the price of their Double Doube
In N Out begins expanding into the East Coast
8
How do you determine revenue?
Quantity + Price
Price - Quantity
Quantity x Price
Quantity - Profit
