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Flashcardizz -Final - Unit 2- Supply and Demand

Flashcardizz -Final - Unit 2- Supply and Demand

Assessment

Flashcard

•

Social Studies

•

12th Grade

•

Practice Problem

•

Hard

Created by

Wayground Content

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49 questions

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1.

FLASHCARD QUESTION

Front

If the price of printers decreases, what happens in the market for ink cartridges?

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Back

The demand increases.

2.

FLASHCARD QUESTION

Front

Generally, it can be said that the lower the price, the higher the quantity demanded.

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Back

True

3.

FLASHCARD QUESTION

Front

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

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Back

falls

4.

FLASHCARD QUESTION

Front

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

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Back

goes up

5.

FLASHCARD QUESTION

Front

In a stretch of road, there is only one gas station. Then two more gas stations open next to the first one. The demand for gasoline does not change during this time. What will happen to the price of gasoline in this stretch of road and why?

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Back

The price of gasoline will decrease because there is more competition among companies.

6.

FLASHCARD QUESTION

Front

Part of the reason why LeBron James earns millions of dollars every year while teachers can earn $30,000 is because...

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Back

all of the options

7.

FLASHCARD QUESTION

Front

Which of the following could cause the price of cars to decrease? The local factory gives a big raise to its employees. None of the options. A new car dealership opens in the city. The price of gasoline decreases.

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Back

A new car dealership opens in the city.

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