Unit 2 -Supply and Demand
Flashcard
•
History
•
11th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
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
2.
FLASHCARD QUESTION
Front
When CDs became popular, people stopped listening to tape cassettes. This caused the ______ Curve for tape cassettes to shift ______.
Back
Demand_____left
3.
FLASHCARD QUESTION
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
4.
FLASHCARD QUESTION
Front
The price of the aluminum used to make umbrellas doubles in price. What will happen to the supply of umbrellas?
Back
Supply decreases
5.
FLASHCARD QUESTION
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
6.
FLASHCARD QUESTION
Front
How do you fix a Surplus?
Back
Lower the price of the item
7.
FLASHCARD QUESTION
Front
How do you fix a Shortage?
Back
Raise the price of the item
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