Supply and demand

Front

According to the law of demand, as price rises, what happens to quantity demanded?

Back

It goes down

Front

What does this curve represent? Options: Supply, Equilibrium, Demand, Surplus

Back

Demand

Front

Goods that are bought and used together are: complementary goods, substitute goods, income goods, unrelated goods

Back

complementary goods

Front

The diagram represents a

Back

increase in demand

Front

What will cause an increase in the quantity demanded of snowboards? Options: More costly production methods, A decrease in the price of lift tickets at snowboarding resorts, A decrease in consumer income, A decrease in the population.

Back

A decrease in the price of lift tickets at snowboarding resorts.

Front

The movement from Point A to Point B represents a(n)

Back

decrease in the quantity supplied

Front

Which of the following would not shift the supply curve for iPhones? Options: an increase in the price of iPhones, a decrease in the number of sellers of iPhone, an increase in the price of plastic, an input into the production of iPhones, an improvement in the technology used to produce iPhones

Back

an increase in the price of iPhones

Front

A decrease in the price of a product will

Back

decrease quantity supplied

Front

Auto Union Workers agree to wage cuts. In terms of supply, this represents a change in.. (resources/inputs, subsides or taxes, income, number of producers)

Back

resources/inputs

Front

Auto Union Workers agree to wage cuts. Which diagram shows this?

Back