How does a cooperative, such as a Grange, affect the concept of supply (S) and demand (D)?

By controlling prices the cooperative affects S and D

The wanted quantity of a good or service

The price will be high, the supply of tractors is low

What is the main purpose of a cooperative?

Help farmers get better market prices for goods and services

Price will decrease because the demand at that price is low

The current quantity of a good or service

Demand increases, prices increase

What is subsistence farming?

Producing enough for your family but not enough for market

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Supply and Demand

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Questions 15

Answers

1
How did settlers obtain land in the 1800s?
Bought land from a land speculator
All of these
Through the Homestead Act
Bought land from the railroad
2
How does a cooperative, such as a Grange, affect the concept of supply (S) and demand (D)?
The cooperative sets market prices
By controlling prices the cooperative affects S and D
The cooperative is only worried about politics
The cooperative passed railroad regulations
3
What is demand?
What you are able to produce
The current quantity of a good or service
The wanted quantity of a good or service
4
Situation #4
The price will be high, demand is low
The price will not matter. Tony wants his tractor to work
The price will be high, the supply of tractors is low
The price will be high, the supply of tractors is high
5
John recently bought the Iphone 5s. He paid $300 for the phone. Why did he pay so much?
The supply is high
The demand is low
The demand is high
6
What is the main purpose of a cooperative?
Sell land
Supports farmers economic well-being and political interests
Help farmers get better market prices for goods and services
7
Situation #2
Price will decrease because the demand at that price is high
Price will increase because Target needs to make a profit
Price will decrease because the demand at that price is low
8
What was a characteristic of the Grange?
All of these
Regulated the railroads
Supports farmers economic well-being and political interests
Allows women to participate
9
What is supply?
The wanted quantity of a good or service
What people want to buy
The current quantity of a good or service
10
Who determines prices of goods and services?
The market
The government
A bunch of companies
11
Situation #1
demand decreases, prices increase
demand increases, prices decrease
Demand increases, prices increase
demand decreases, prices decrease
12
How did Minnesota regulate the railroads?
All of these
Set maximum traveling rates
Created the office of Railroad Commissioner
Set maximum shipping fees
13
What is subsistence farming?
Producing enough for your family but not enough for market
Farming all of the nutrients out of the ground
Producing a variety of crops and livestock
14
Nike is charging too much for sneakers. If no one buys the sneakers what is going to happen?
Nike will keep supplying shoes
The price will go up
The price will go down
Nike doesn't care
15
Situation #3
The price will be high
The price will be high because demand is high
All of these
The price will be high because supply is low

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