Econ Unit 2 Test HON

Front

Which of these shows a decrease in the quantity demanded?

Back

Front

Which of the following would cause the demand curve to shift to the right? A popular toy loses appeal, Suppliers expect higher prices in the future, The price of a substitute good decreases, Huge population increase

Back

Huge population increase

Front

Which of the following would cause the demand curve to shift to the left?
price of a complementary good decreases,
huge population increase,
new government regulations,
consumers begin to dislike the product

Back

consumers begin to dislike the product

Front

Which of the following will cause an increase in demand for snowboards? 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

Tags

DOK 2

Shift in Demand

Front

Goods that are bought and used together are

Back

complementary goods

Tags

DOK 1

Complementary/Substitute Goods

Front

What is the ONE THING that can cause a change in quantity demanded? Options: a change in price of the product, a change in the supply of the product, a recession, deflation

Back

a change in price of the product

Front

If the price of DVD players decreases, the demand for DVDs will _____?

Back

increase

Front

Which of the following leads to a decrease in supply? an increase in the cost of raw materials, diminishing marginal returns, a decrease in the cost of raw materials, a change in the law of supply

Back

an increase in the cost of raw materials

Front

What effect do excise taxes on production usually have on the supply curve? Options: decreases supply, supply curve shifts left; increases supply, supply curve shifts left; decreases supply, supply curve shifts right; increases supply, supply curve shifts right

Back

decreases supply, supply curve shifts left

Front

Which of these best describes the influence of high prices on the behavior of producers? Options: High prices are an incentive for producers to produce more., Producers will use fewer raw materials and less labor., High prices are an incentive for producers to produce less., Prices have no incentive for producers.

Back

High prices are an incentive for producers to produce more.