stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Supply and Demand Flashcards | StudBud
Explore
/
Supply and Demand
Supply and Demand
15 terms
·
StudBud Administration
·
223 plays
Supply and Demand
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
A good that is bought and used along with another good is know as a ?
Complement good
Inferior good
Common good
Substitute good
2
A graphic representation of the quantities of a good that will be bought at every price
Supply Curve
Demand Distribution
Demand Curve
Supple Distribution
3
A type of good a person would not buy if their income increased
Inferior good
Inelastic good
Luxury good
Necessary good
4
When a consumer is able and willing to buy a good or service?
Demand
Supply
Resource
Want
5
Shows the quantities of products demanded at each price by ALL consumers
Market demand schedule
Elasticity List
Market Pricing
Schedule of Consumer Prices
6
How would the future price jump of a good relate to the current demand?
will rise
will drop
will remain the same
7
Rent control is an example of
Price ceiling
subsidies
Free Market
Price Floor
8
When quantity supplied is greater than the demand it is?
Scarcity
shortage
Surplus
Sellers Market
9
The smallest amount by law a person can be paid
Fair Wage Law
Poverty Line
Nothing
Minimum Wage
10
Which is an example of gov't influence on supply?
Marginal Costs
Subsidies
IRS
Law of Supply
11
When quantity demanded is greater than the supply
Consumer Revolution
Flood of goods
Shortage
Excess Supply
12
What is the basic principle of the law of demand?
services are interest in the same way as goods
when is a price is lower ppl will buy more of it
Everyone has a limited income they will spend
higher the price the higher the demand
13
When demand matches the supply, this is know as the
Economy of Scale
Elasticity
Thinking at the Margin
Equilibrium
14
Which is a good example of an inelastic good?
hats
beanbags
Aeroplane tickets
Milk
15
A shift in the demand curve mean that demand changes at..?
Every price
Only at the equilibrium
The low prices
The high prices
