Econ S & D Makeup for Kahoot

What is the one thing that can change the "quantity" demanded or supplied?

• TIMER

• RATNEST

• Healthy Markets

• Price

What do we call the shifters of the Supply curve?

• TIMER

• RATNEST

• TIMED

• RATBED

What do we call the things that shift the demand curve?

• TIMER

• RATNEST

• YMCA

• TINSTAAFL

What market typically only has one seller?

• Monopoly

• Oligopoly

• Monopolistic Competition

• Oligarchy

Which market structure typically sees the sellers have the lowest amount of control over their prices?

• Monopolistic competition

• Perfect competition

• Monopoly

• Oligopoly

Which of these could be a possible barrier of entry into a market? (Pick two)

• Entry costs

• Violent competitors

• Taxes

• Technology

Typically, the more competition a market has, the lower the prices of goods will be

• True

• False

When a graph shifts to the right, it ______. When it shifts to the left it ______.

• Increases, Increases

• Increases, Decreases

• Decreases, Decreases

• Decreases, Increases

The point on a Supply & Demand graph where the two curves intersect is called

• The Price is Right

• The Equilibrium Price

• The Sweet Spot

• Optimal Demand Price (ODP)

Which market typically has few sellers, but prices can still be fairly high

• Oligopoly

• Monopolistic Competition

• Monopoly

• Perfect Competition