Supply and Demand

Amazon Prime is selling Smencils.  There are only a few packs left and they are very popular.  What will happen to the price?

• The price will go up.
• The price will go down.

Tags

CCSS.HSF-LE.A.1B

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

Farmers in California have had wonderful weather. They have produced the largest crop of watermelons in years. What will happen to the price of watermelons?

• The price will go up.
• The price will go down.

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?

• The price will go up.
• The price will go down.

Tags

CCSS.HSF-LE.A.1B

Which of the following is NOT a determinant of the supply of peanut butter?

• The price of peanuts 
• The wages of peanut butter factory workers 
• The income of peanut butter consumers
• Existing peanut butter making technology

Which of the following will cause an increase in demand for snowboards?

• More costly production methods 
• A decrease in the price of lift tickets at resorts in Colorado 
• A decrease in consumer income   
• A decrease in the population 

Americans revive their love of SUV’s and the newly remodeled, but still “gas guzzling” Hummer. What happens to the market for gasoline?

• Demand for gasoline will decrease 
• Demand for gasoline will increase
• Demand for gasoline will stay the same

Due to a disappointing economy, Americans are cutting back on the family vacation road trips. What happens to the market for gasoline?

• Demand for gasoline will decrease 
• Demand for gasoline will increase
• Demand for gasoline will stay the same

Costs of producing gasoline has increased due to rising energy costs. What happens to the market for gasoline?

• Supply for gasoline will decrease 
• Supply for gasoline will increase
• Supply for gasoline will stay the same