Chapter 4

15 termsStudBud Administration70 plays

Chapter 4

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
states that the higher the price buyers will pay the greater the quantity a firm will produce
the law of diminishing marginal utility
the law of demand
the law of supply
law of economics
2
Which is not an example of a supply shock?
political turmoil
steep rise in oil prices
winning the lottery
natural disasters
3
shows how much consumers will buy at a given price
demand schedule curve
product schedule curve
supply schedule curve
service schedule curve
4
On a Demand Schedule and Curve a rightward shift equals an
decrease in supply
increase in demand
increase in supply
decrease in demand
5
Which is not a way to increase demand?
persuade govt to buy surplus
drive competitors out of business
sell at higher prices
advertising
6
an amount of something left over when requirements have been met
none of these
overflow
surplus
supply shock
7
a market state where the supply in the market is equal to the demand in the market.
none of these
market equilibrium.
market development
market readiness
8
shows how much a business will produce at a given price.
demand schedule curve
supply schedule curve
service schedule curve
product schedule curve
9
Which of these factors can affect change in "supply"
Change in production costs
Change in technology
Change in price of related goods
All of these
10
On a Demand Schedule and Curve a leftward shift equals an
increase in supply
increase in demand
decrease in supply
decrease in demand
11
the amount of goods and services businesses are willing and able to provide.
availability
supply
demand
product
12
On a Supply Schedule and Curve a leftward shift equals an
decrease in supply
increase in supply
increase in demand
decrease in demand
13
When the government purchases surplus to raise the prices
none of these
price ceiling
price is right
price floor
14
Which one is not a solution to a surplus
Increase demand
Decrease supply
Allow price to fall to market equilibrium
sell for higher price
15
On a Supply Schedule and Curve a rightward shift equals an
decrease in supply
increase in supply
decrease in demand
increase in demand

Chapter 4 Flashcards | StudBud

Chapter 4

15 termsStudBud Administration70 plays

Chapter 4

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
states that the higher the price buyers will pay the greater the quantity a firm will produce
the law of diminishing marginal utility
the law of demand
the law of supply
law of economics
2
Which is not an example of a supply shock?
political turmoil
steep rise in oil prices
winning the lottery
natural disasters
3
shows how much consumers will buy at a given price
demand schedule curve
product schedule curve
supply schedule curve
service schedule curve
4
On a Demand Schedule and Curve a rightward shift equals an
decrease in supply
increase in demand
increase in supply
decrease in demand
5
Which is not a way to increase demand?
persuade govt to buy surplus
drive competitors out of business
sell at higher prices
advertising
6
an amount of something left over when requirements have been met
none of these
overflow
surplus
supply shock
7
a market state where the supply in the market is equal to the demand in the market.
none of these
market equilibrium.
market development
market readiness
8
shows how much a business will produce at a given price.
demand schedule curve
supply schedule curve
service schedule curve
product schedule curve
9
Which of these factors can affect change in "supply"
Change in production costs
Change in technology
Change in price of related goods
All of these
10
On a Demand Schedule and Curve a leftward shift equals an
increase in supply
increase in demand
decrease in supply
decrease in demand
11
the amount of goods and services businesses are willing and able to provide.
availability
supply
demand
product
12
On a Supply Schedule and Curve a leftward shift equals an
decrease in supply
increase in supply
increase in demand
decrease in demand
13
When the government purchases surplus to raise the prices
none of these
price ceiling
price is right
price floor
14
Which one is not a solution to a surplus
Increase demand
Decrease supply
Allow price to fall to market equilibrium
sell for higher price
15
On a Supply Schedule and Curve a rightward shift equals an
decrease in supply
increase in supply
decrease in demand
increase in demand