February 3 KSA Vocabulary Formative

Front

How are market prices for goods and services determined?

Back

Market prices are determined by the interaction of supply and demand.

Front

How does increased demand typically affect production?

Back

Increased demand typically results in increased production.

Front

How does increased demand typically affect consumer price?

Back

Higher demand usually leads to higher consumer prices.

Front

How does increased supply such as overproduction typically affect price?

Back

Increased supply typically lowers prices.

Front

How does the Trump Administration plan to reduce the cost of oil?

Back

increase domestic oil production and reduce environmental regulations.

Front

How has technological innovation affected oil production in the US?

Back

Technological innovation such as hydraulic fracturing has greatly increased oil production in the US.

Front

How did the Biden Administration try to limit oil consumption?

Back

By promoting energy-saving appliances and increasing fuel efficiency standards.

Front

How did the Biden Administration try to promote alternative energy?

Back

By investing in renewable energy projects and implementing tax incentives.

Front

How did the Trump Administration policies address the growing alternate energy industry?

Back

The Trump Administration reduced incentives for the alternate energy industry.

Front

How did Biden try to limit oil production in Alaska?

Back

Biden tried to limit oil production in Alaska by halting new drilling leases and enforcing stricter regulations.