If the price of one of the producers goods is higher and making more profit, producers would...

Reduce the supply of their less profitable goods.

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TENOR & CO-PIRATE

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Quiz quiz to test your knowledge on the factors that affect supply and demand.

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Questions 10

Answers

1
If a producer increases the production of their goods because they expect it to increase...
Expectations of consumers
Technology
Sellers in the market
Expectation of Producers
2
The value of the Australian Dollar can increase or decrease demand for goods is called what?
Overseas events
Other countries
Australian dollar
Population
3
The demand for goods and services in a country can increase because of...
Income
Overseas events
Population decrease
Population increase
4
If the cost of resources increase then the cost of production will increase...
Buyers and sellers
Price of goods
Price of resources
Factors of production
5
If the price of one of the producers goods is higher and making more profit, producers would...
Reduce the supply of their less profitable goods.
Reduce the price of their less profitable goods.
Reduce the amount in which they make.
Reduce the demand
6
A successful __________ ___________ is one that increases the demand for a product.
Preference tasts
Substitute good
Complementary good
Advertising campaign
7
Increasing the number of __________ in the market will usually increase the supply of a good
Products
Sellers
Goods
Buyers
8
What does C stand for in CO-PIRATE?
Consumers
Cost of production
Cost of credit
Cost of suppliers
9
This may make it easier to produce more of a product, whilst not using any more resources...
Technology
Number of sellers in the market
Expectations of Producers
Price of other goods
10
Demand for CD's decreasing as more people download music is an example of which COPIRATE factor
Expectations of consumers
Tastes and preferences
Related goods price
Advertising

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