Demand and Supply - Unit 2

Question 1

How does technology affect supply?

Accepted Answer

Increases

Question 2

Direct or indirect payment given by the government to a business or individual

Accepted Answer

subsidy

Question 3

Demand decreases when prices?

Accepted Answer

Rise

Question 4

Who benefits from high demand?

Accepted Answer

Sellers

Question 5

Complete the sentence: High demand leads to...

Accepted Answer

Higher prices

Question 6

Supply increases when prices?

Accepted Answer

Rise

Question 7

Resources are distributed equally

Accepted Answer

False

Question 8

Resources are always unlimited

Accepted Answer

False

Question 9

When supply exceeds demand, prices?

Accepted Answer

Fall

Question 10

High demand can lead to shortages

Accepted Answer

True

Question 11

High supply always means low prices

Accepted Answer

False

Question 12

What affects demand the most?

Accepted Answer

Price

Question 13

Expenses that don't change with levels of production or sales

Accepted Answer

fixed costs

Question 14

___________________ is where the price for the amount supplied is equal to the amount demanded

Accepted Answer

Equilibrium

Question 15

The amount of products a producer is willing and able to sell a different prices is

Accepted Answer

supply

Question 16

Demand is influenced by trends

Accepted Answer

True

Question 17

Complete the sentence: Low supply leads to...

Accepted Answer

Higher prices

Question 18

Supply chain disruptions affect prices

Accepted Answer

True

Question 19

Why do prices fluctuate?

Accepted Answer

Supply and demand

Questions 19