Unit 2: Supply and Demand Test *

Front

What does this curve represent? Options: demand, supply

Back

supply

Front

What does this curve represent? supply, demand

Back

demand

Front

Printers and ink cartridges are typically purchased together. Economists would call these

Back

Compliments

Front

A government payment made to a business is a

Back

subsidy

Front

The following is a factor that will not cause the demand curve to shift:
Change in the price of the product, Consumer expectations

Back

Change in the price of the product

Front

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

Back

it goes down

Front

For the law of supply, as price rises, what happens to quantity supplied?

Back

it goes up

Front

If Lebron James did advertisements for Taco Bell this would cause the ___________ curve for Taco Bell to shift ____________.

Back

demand.........right

Front

When CDs became popular, people stopped listening to tape cassettes. This caused the ___________ curve for tape cassettes to shift ____________.

Back

demand.........left

Front

What is the point called where the supply curve and the demand curve intersect?

Back

Equilibrium Price