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Duplicate of Supply & Demand Flashcards | StudBud
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Duplicate of Supply & Demand
Duplicate of Supply & Demand
13 terms
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StudBud Administration
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62 plays
Law of Supply, Determinants of Supply, and more
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Chevy opens a new dealership in Dubuque. Which factor is changing the supply of cars?
Expectations
Sellers in market
Technology
Other goods
2
The cost to produce burgers decreased with invention of new grills. Which factor causes shift?
Sellers in Market
Resource Price
Other goods
Technology
3
Farmers who produce corn are given subsidies. Which factor is causing the change of supply?
Sellers in Market
Expectations
Subsidies and taxes
Resource Price
4
Happy Joes closes their stores in Dubuque. What factor causes the supply shift in pizza?
Expectations
Technology
Subsidies and Taxes
Sellers in Market
5
A cellphone is ___________ to a landline
compliment
input cost
substitute
inferior good
6
There is an increase in the cost to produce phones. Which factor of supply caused the shift?
Sellers In Market
Other Goods
Expectatons
Resource Price
7
Bacon producers expect the price of bacon to rise. Which factor is causing the supply change?
Resource Price
Other Goods
Sellers in Market
Expectations
8
The price of iPhones increase. Which factor will cause the supply change in Android phones?
Resource Price
Expectations
Sellers in Market
Substitutes for more expensive items
9
The Law of Supply states that:
As price rises, so does the quantity supplied
Supply stays at a fixed amount
As price increases, quantity decreases
As supply increases, demand decreases
10
The cost to produce laptops decreases. Which factor has changed the supply?
Expectations
Other Goods
government regulation
input price
11
The Government taxes alcohol production. Which factor will change the supply of alcohol?
Technology
Other Goods
Subsidies and Taxes
Resource Price
12
Peanut butter and Jelly are
labor costs
opposites
compliments
alternatives
13
The cost of making cars has decreased with new machinery. Which factor is causing the shift?
Technology
Sellers in Market
Expectations
Resource Price
