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supply and demand Flashcards | StudBud
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supply and demand
supply and demand
30 terms
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StudBud Administration
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154 plays
#curve #supply #demand #economics
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
I there is an increase in technology then there is an increase in...
Quantity Supply
Quantity Demand
Demand
Supply
2
If an inelastic item increased it's price the demand would change a lot
True
False
3
I you are above the intersecting point on the Supply and Demand graph then you are at
Shortage
Equilibrium
Surplus
4
If there is a decrease in income what will happen to demand
demand will stay the same
demand will decrease
demand will increase
5
supply elasticity is...
when the price changes QS
when the price doesn't change S
when the price doesn't change QS
when the price changes QD
6
If there is about to be a price increase in cereal then
nothing changes
less people buy the cereal
more people buy the cereal
7
If taxes were raised then
demand would increase
demand would decrease
supply would decrease
supply would increase
8
If there is a decrease in income then
a increase in demand
a decrease in demand
no change in demand
a decrease in quantity demand
9
If the price of Oreos is about to go up what will happen
-D
+QD
+D
-QD
10
what is demand?
desire and also the willingness and ability to buy a product
a graph showing qd at every price
something that motivates you
a product you are unable to buy
11
What is the point on the supply and demand curve in which the curves cross called
Quantity demand
equilibrium
Quantity supply
incentive
12
If an elastic price drops what happens to QD
A large increase in QD
No change in QD
A large decrease in QD
13
price changes demand
False
True
14
Timer is for demand
True
False
15
If there is an increase in consumers then
there is an increase in demand
demand doesn't change
there is a decrease in demand
16
If there is an decrease in price for Milky Way what happens to Snickers
-D
+QD
+D
-QD
17
If there is an increase subsides then there is a...
Increase in D
Decrease in D
Increase in S
Increase in S
18
What do you give up when you move along the demand curve
marginal utility
incentive
utility
opportunity cost
19
cookies and milk are
complements
substitutes
incentive
inelastic
20
Microeconomics talks about?
Countries as a whole
Economics as a whole
Individuals
21
The demand curve goes down
False
True
22
what would be a substitute for snickers
Milkyway
broccoli
steak
burger
23
I price goes up then QS goes..
Down
Up
24
Losing its satisfaction after using it over and over again is called?
Diminishing Marginal Utility
Utility
Incentive
Marginal Utility
25
subsidy is...
when the government pays you to make a product
the decrease in additional usefulness
the motivation to buy something
the extra usefulness that an item gives you
26
If there is a decrease in taste the demand curve will shift to the
down and to the right
down and to the left
up and to the right
up and to the left
27
What happens to peanut butter if the price of jelly goes up
-QD
+QD
+D
-D
28
If price increases what happens to QS
It goes down
It goes up
29
If you are below the intersecting point on the Supply and Demand curve then you are at
Shortage
Equilibrium
Surplus
30
Incentive is something that motivates you
False
True
