cand left over on shelves after Halloween

When a shortage occurs in our economy

market ends up taking care of itself

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Econ. Chp. 7

20 termsStudBud Administration223 plays

Imported from external platform

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
The law of demand
direct relationship
same as Qs
same as Qd
inverse relationship
2
price floor
supermarket floor
cap on flood insurance prices
minimum wage
stock market
3
Price of coffee goes up and you start buying tea
diminishing returns
marginal utility
substitution effect
complimentary good
4
Freely chosen actions between a buyer and a seller
supply
demand
market
Qs/Qd
5
Falling prices tell consumers to
buy less
buy more
don't buy
buy the same
6
Fads
price rations
price floor
determinant of demand
determinant of supply
7
amount of goods/services producer is willing and able to sell at a particular price
Qd
supply
Qs
demand
8
surplus
lack of supplies
an underabundance
the number of days you can miss a class
cand left over on shelves after Halloween
9
determinant of supply
population
fads
income
taxes
10
complimentary goods
cereal/milk
bat/baseball
all these
camera/film
11
If population increases
supply goes up overall
demand and supply do not change
demand goes down overall
demand goes up overall
12
utility
good and services
factor of production
real income
satisfaction
13
demand curve shifts to the left
decrease in Qd
increase in demand
decrease in Qs
decrease in demand
14
temporary condition
shortage
price
surplus
market
15
The demand curve and supply curve intersect
eq
Qs
P
Qd
16
what people want to buy and how much they will pay for it
Qs
demand
Qd
supply
17
When a shortage occurs in our economy
people get a 2nd job
market ends up taking care of itself
government needs to always step in
people go back to school
18
Moving from one point to another along a demand curve will change the
price
demand
Qd
supply
19
Rising prices tell suppliers to
make more of the producr
make the same amount as before
stop making the product
make less of the product
20
law of diminishing marginal utility
last bite of your meal not as satisfying
favorite song begins to get old over time
all of these
your boy/girl friend not as intriguing over time

Econ. Chp. 7 Flashcards | StudBud

Econ. Chp. 7

20 termsStudBud Administration223 plays

Imported from external platform

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
The law of demand
direct relationship
same as Qs
same as Qd
inverse relationship
2
price floor
supermarket floor
cap on flood insurance prices
minimum wage
stock market
3
Price of coffee goes up and you start buying tea
diminishing returns
marginal utility
substitution effect
complimentary good
4
Freely chosen actions between a buyer and a seller
supply
demand
market
Qs/Qd
5
Falling prices tell consumers to
buy less
buy more
don't buy
buy the same
6
Fads
price rations
price floor
determinant of demand
determinant of supply
7
amount of goods/services producer is willing and able to sell at a particular price
Qd
supply
Qs
demand
8
surplus
lack of supplies
an underabundance
the number of days you can miss a class
cand left over on shelves after Halloween
9
determinant of supply
population
fads
income
taxes
10
complimentary goods
cereal/milk
bat/baseball
all these
camera/film
11
If population increases
supply goes up overall
demand and supply do not change
demand goes down overall
demand goes up overall
12
utility
good and services
factor of production
real income
satisfaction
13
demand curve shifts to the left
decrease in Qd
increase in demand
decrease in Qs
decrease in demand
14
temporary condition
shortage
price
surplus
market
15
The demand curve and supply curve intersect
eq
Qs
P
Qd
16
what people want to buy and how much they will pay for it
Qs
demand
Qd
supply
17
When a shortage occurs in our economy
people get a 2nd job
market ends up taking care of itself
government needs to always step in
people go back to school
18
Moving from one point to another along a demand curve will change the
price
demand
Qd
supply
19
Rising prices tell suppliers to
make more of the producr
make the same amount as before
stop making the product
make less of the product
20
law of diminishing marginal utility
last bite of your meal not as satisfying
favorite song begins to get old over time
all of these
your boy/girl friend not as intriguing over time