Econ H Unit 2 Test Supply, Demand, Price (Q4 24-25)

Front

What causes the demand curve to shift to the right?

Back

Huge population increase

Front

What will cause an increase in demand for snowboards?

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?

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? Options: 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?

Back

Decreases supply, supply curve shifts left

Front

Which of these best describes the influence of high prices on the behavior of producers?

Back

High prices are an incentive for producers to produce more.

Front

According to the Law of Supply, what happens when the price of a hamburger changes from $2 to $2.50?

Back

The quantity of hamburgers supplied will change from 150 to 270.

Front

In the graph, both the quantity demanded and the price have changed. Choose the best statement below that explains why.

Back

There has been a change in price