Causes for automobile price decrease?
7th grade economics vocab
Flashcard
•
Social Studies
•
7th Grade
•
Hard
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30 questions
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1.
FLASHCARD QUESTION
Front
Back
A new automobile dealership opens in town.
2.
FLASHCARD QUESTION
Front
If a consumer knows a product will be on sale next week, how is CURRENT demand affected?
Back
it will go down
3.
FLASHCARD QUESTION
Front
In a market economy, who decides prices?
Back
buyers and sellers
4.
FLASHCARD QUESTION
Front
Lower price = greater quantity demand.
Back
True
5.
FLASHCARD QUESTION
Front
Law of demand: As price rises, quantity demanded...
Back
goes down
6.
FLASHCARD QUESTION
Front
Law of supply: As price rises, quantity supplied...
Back
goes up
7.
FLASHCARD QUESTION
Front
Type of offering:
Back
goods
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