AP Microeconomics Unit 2 - Test Prep
Flashcard
•
Social Studies
•
10th Grade - University
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
The graph represents: Demand or Supply?
Back
Demand
2.
FLASHCARD QUESTION
Front
The Law of Supply states: as price increases, supply increases
Back
as prices increases, quantity supplied increases
3.
FLASHCARD QUESTION
Front
When quantity supplied and quantity demanded is equal
Back
equilibrium
4.
FLASHCARD QUESTION
Front
What causes the change in sales at the local grocery store when thousands of people leave a small town due to a factory closing down?
Back
Change in the number of buyers
5.
FLASHCARD QUESTION
Front
Goods that are bought and used together are
Back
complementary goods
6.
FLASHCARD QUESTION
Front
Which of the following is likely to increase the demand for peanut butter? Options: Fewer children in the population, News that insects have destroyed much of the peanut crop and that there will be less peanut butter on the shelves in three months., A big increase in the price of jelly., A report from the Surgeon General of the United States that eating peanut butter makes people nutty.
Back
News that insects have destroyed much of the peanut crop and that there will be less peanut butter on the shelves in three months.
7.
FLASHCARD QUESTION
Front
Which of the following will cause an increase in demand for snowboards? Options: More costly production methods, A decrease in the price of lift tickets at resorts in Colorado, A decrease in consumer income, A decrease in the population
Back
A decrease in the price of lift tickets at resorts in Colorado
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