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Internal Sharing Flashcards | StudBud
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Internal Sharing
Internal Sharing
10 terms
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StudBud Administration
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Flashcards
10 cards
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Practice quiz
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Questions
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Answers
1
If a consumer knows that a product will be going on sale this week, how will his/her CURRENT demand be affected?
It will stay the same
It will go down
It will go up
it will fluctuate
2
Demand is measured not only by a consumer’s ability to buy a product, but also by
Opportunity costs
Desire and willingness to buy
The demand for similar products
The demand for the product
3
What does this curve represent?
Shortage
Equilibrium
Supply
Demand
4
For the law of demand, as price rises, what happens to quantity demanded?
It goes down
It goes up
It stays the same
It is not effected
5
Generally speaking, the lower the price, the greater the quantity demand.
False
True
6
If the price of printers goes down, what happens in the market for ink cartridges?
Demand increases
Demand decreases
Supply increases
Supply decreases
7
When students leave town for the summer, the demand for meals at the local restaurants declines. This may result in...
a decrease in price
an increase in price
more people moving into town.
non of the choices
8
If the price of gas rises, what happens to its supply?
Supply lowers
Stays the same
Supply rises
Enter the matrix
9
A table that lists the quantity of a good that a single employee will buy at each price in a market.
Supply and Demand graph
Demand schedule
Elassticity chart
Market demand schedule
10
For the law of supply, as price rises, what happens to quantity supplied?
It stays the same
It goes down
It goes up
It is not effected
