Demand and Supply

Question 1

A study says tap water is better than bottled, this makes the demand curve for bottle H2O ____?

Accepted Answer

Shift Curve Left

Question 2

What Factor(s) play a role in Supply and Demand?

Accepted Answer

All of the Above

Question 3

The demand curve for D.J.'s autograph will do what when D.J. increases the price he charges?

Accepted Answer

Move up along the curve

Question 4

When price and quantity demanded move in opposite directions

Accepted Answer

Demand

Question 5

If Kroger sends out coupons for their milk, what will it do to the demand curve for Kroger Milk

Accepted Answer

Move Down Along Curve

Question 6

GM creates new fast drying paint, this will affect the supply curve how?

Accepted Answer

Shift curve to Right

Question 7

When graphed the curve is a direct relationship

Accepted Answer

Supply Curve

Question 8

When price and quantity supplied move in same direction

Accepted Answer

Supply

Question 9

A huge increase in Immigrants moving to Ohio will do what to the demand curve?

Accepted Answer

Shift the Curve Right

Question 10

What happens to the demand curve if Luke loses his job?

Accepted Answer

Shift curve to the Left

Question 11

Examples include stores,services, entertainment, and Internet shopping

Accepted Answer

Market

Question 12

Examples of this kind of demand include Milk, insulin, and eggs

Accepted Answer

Inelastic Demand

Question 13

Markets in a free economy are based on what type of interaction between buyer and seller?

Accepted Answer

Voluntary

Question 14

School cafeteria increases the price of Lunches in order to make more, the supply curve will _?

Accepted Answer

Shift curve to the Right

Question 15

Change in quantity demanded means you move where on the demand curve?

Accepted Answer

Move along the curve

Question 16

When graphed, the curve is an indirect relationship

Accepted Answer

Demand Curve

Question 17

What phrase best describes the term utility?

Accepted Answer

Satisfaction from a good or service

Question 18

Which of the following is an example of a market?

Accepted Answer

All of the Above

Question 19

Jennie's business gets a tax cut from the gov't, her supply curve will___?

Accepted Answer

Shift curve to the right

Question 20

Amount of a good/service that producers are able and willing to sell at possible prices is the?

Accepted Answer

Law of Supply

Question 21

4 new movie rental stores open to compete with Blockbuster, this will ____ to the supply curve?

Accepted Answer

Shift curve to the right

Question 22

The reason that the law of supply is a direct relationship is because of what?

Accepted Answer

Profit Incentives among suppliers

Question 23

What term describes the concept of how much demand varies according to changes in price?

Accepted Answer

Price Elasticity of Demand

Question 24

Amount of a good/service that consumers are able and willing to buy at possible prices is the ?

Accepted Answer

Law of Demand

Question 25

Butter becomes super expensive, this makes the demand curve for Margarine _____?

Accepted Answer

Shift Curve Right

Demand and Supply

Questions 25

Demand and Supply

Questions 25