Supply and Demand Shifters

Supply and Demand Shifters

Assessment

Flashcard

Business

11th Grade

Hard

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20 questions

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1.

FLASHCARD QUESTION

Front

What is the "law of demand"?

Back

As price increases, demand decreases, and vice versa.

2.

FLASHCARD QUESTION

Front

If there is a major storm that shuts down traffic in the city and keeps people at home, what happens to the demand curve?

Back

The curve shifts left

3.

FLASHCARD QUESTION

Front

What happens to the demand for a product if the price of a complementary good decreases?

Back

The demand for the product will increase.

4.

FLASHCARD QUESTION

Front

How does a decrease in the number of buyers affect the demand curve?

Back

The demand curve will shift to the left.

5.

FLASHCARD QUESTION

Front

If the price of a substitute good decreases, what happens to the demand for a product?

Back

Demand for the product decreases.

6.

FLASHCARD QUESTION

Front

How does an increase in the number of buyers shift the demand curve?

Back

The demand curve shifts to the right.

7.

FLASHCARD QUESTION

Front

Describe the impact of government regulations on the demand for a product.

Back

Government regulations can impact the demand for a product by either increasing or decreasing it.

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