Unit 2 Supply and Demand

Event: Coffee prices increase. The equilibrium quantity of tea (replacement for coffee) goes...

Which of these will force the price of an item downward?

Which of these is likely to create a shortage of an item?

Chocolate-covered corn becomes a new fad at state fairs. Will the supply of corn increase, decrease or stay the same?

Which of these is the most likely to create a surplus of an item?

A newly developed seed increases corn yield. Which factor causes the shift?

The amount at which supply and demand are the same.

Which of these best describes prices in a market economy?

Who among the following benefits the most from rent control?

Data shows that incomes of Americans will rise quickly over next year. How is this going to affect the demand curve?

What do low prices signal buyers to do?

Which term best describes rent control?

Law of demand states when price goes up....

The highest legal price that can be charged for a product is refered to as..

When quantity demanded is greater than the quantity supplied there is a . . .

Soy bean prices are expected to rise next month. What will happen to the supply curve?

What factor causes movement along the supply curve?

"Steel prices soar!" What happens to the supply/demand for cars?

The government increases the amount of corn subsidy paid to farmers. The equilibrium price of corn goes...

What is not a demand shifter

Which of these describes the effects of price floors on the US Sugar Industry

Law of supply states when price goes up, quantity supplied goes...

A high protein diet sweeps the nation. The equilibrium price of beef goes ___ and the equ. quantity of beef goes ___.

Which of the following is not a supply shifter?

Who among the following benefits the most from rent control?