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Duplicate of Supply and Demand Quiz Flashcards | StudBud

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Duplicate of Supply and Demand Quiz

7 terms·StudBud Administration·50 plays

effects of price, supply, demand using real-world (sort of) examples.

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Questions 7

Answers

1
An increase in the price of a product will cause
Sponge Bob to increase
supply to decrease
demand to increase
demand to decrease
2
If the price of Snickers goes up demand for Snickers goes down. This will result in
a surplus of Snickers
a shortage of Snickers
a further increase in the price of Snickers
Snickers in school lunches
3
If the price of apple pie increases, the demand for ice cream (a compliment) will
decrease
be unchanged
increase
increase and decrease at the same time
4
An increase in the price of Snickers will result in a(an)
increase in demand for Snickers
decrease in supply of Snickers
decrease in demand for Snickers
5
If the price of hamburgers decreases, the demand for hot dogs (a sub.) will
decrease
remain unchanged
Sponge Bob
increase
6
How will the roll-out of the new (and safer) Super Fuzzy Wuzzy affect demand for Fuzzy Wuzzy?
the old Fuzzy Wuzzys will feel neglected
demand will decrease
the old Fuzzy Wuzzys will attack and eat the new ones
demand will increase
7
How will a decrease in the price of hot dogs affect hamburgers?
demand will increase and price will decrease
demand will increase and price will increase
demand will decrease and price will increase
demand will decrease and price will decrease