Unit 2 -Supply and Demand

Front

If sandals suddenly became very popular, what would happen to the market for basketball shoes? This would cause the _____curve for basketball shoes to shift____.

Back

Demand____left

Front

When CDs became popular, people stopped listening to tape cassettes. This caused the ______ Curve for tape cassettes to shift ______.

Back

Demand_____left

Front

The price of the nylon used to make umbrellas is cut in half. What will happen to the market for umbrellas?

Back

Price decreases, quantity increases

Front

The price of the aluminum used to make umbrellas doubles in price. What will happen to the supply of umbrellas?

Back

Supply decreases

Front

The weather forecast shows a lot of rain in the next few weeks. What will happen to the demand for umbrellas?

Back

Increased demand

Front

How do you fix a Surplus?

Back

Lower the price of the item

Front

How do you fix a Shortage?

Back

Raise the price of the item

Front

The price of the lawn mowers drops significantly. What will be the effect on Lawn mower oil?

Back

Increased Demand

Front

In a market for Tacos, What will happen if the price of beef increases?

Back

Price will increase and quantity will decrease

Front

In a market for Tacos, What will happen if the price of cheese decreases?

Back

Price will decrease and quantity will increase