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Module 2 Quiz - Econ Review Flashcards | StudBud

Explore/Module 2 Quiz - Econ Review

Module 2 Quiz - Econ Review

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Questions 10

Answers

1
If Demand Increases?
The Demand Curve no longer exists.
The Demand Curve will shift to the left.
The Demand Curve will shift to the right.
The Curve does not shift at all.
2
Which is NOT a Substitute Good for Desks?
The Floor
A Table
A Counter
A Clipboard
3
In the Law of Supply there is a direct relationship between _ _ _ _ _ and the quantity(amount) supplied.
Price
Credit Check
Community Based Initiative
Emotional and Irrational Thinking
4
Which one is not a shifter of Supply?
Number of Producers
Expectations
Technology for Production
Tastes/Preferences
5
Which is NOT a Complementary Good for Desks?
Pens
A Notebook
Cardboard Boxes
Chromebook(Device for Work)
6
If Supply Decreases?
The Curve does not shift at all.
The Supply Curve no longer exists.
The Supply Curve will shift to the right.
The Supply Curve will shift to the left.
7
Market equilibrium is when.......
There is way too much product in the market.
Supply does not meet market demand.
Red Die #5 is unavailable.
Market supply exactly equals market demand.
8
What can cause market dis-equilibrium?
Supply equals market demand.
Someone said something mean about your favorite product.
Too much demand and not enough supply.
Too much supply and not enough demand.
9
The law of demand states- when the price increases, the quantity demanded will ___________.
Decrease
Increase
The Demand Curve no longer exists.
Stay the Same
10
Which one is not a shifter of demand?
Number of Consumers(Population)
Price of Related Goods
Price of Resources
Expectations