Supply and Demand 2023-24

What might happen if the demand for a new type of XBOX began rising quickly?

• The manufacturer would begin making fewer new XBOXs

• Microsoft would raise the price of the new XBOXs

• Microsoft would stop selling the new XBOX

• Microsoft would lower the price of the new XBOX

Which condition would lead to the highest prices?

• Low supply, high demand

• High supply, high demand

• High supply, low demand

• Low supply, low demand

In a market, price is determine by the interaction of:

• inputs and outputs

• supply and demand

• push and pull factors

• demand and means on distribution

If demand for a product increases beyond the ability of produces to supply the product, what will happen to the price of the product?

• the price will increase

• the price will decrease

• the prices will stay the same

• the price will decrease until producers can make more

What might happen if the demand for a new type of sneaker began rising quickly?

• The manufacturer would begin making fewer sneakers

• The sneaker company would raise the price of the sneakers

• People would refuse to pay more money for the sneakers

• The sneaker company would lower the price of the sneakers

What is likely to happen if the price of a new pair of sneakers went up?

• Demand for the sneakers would increase

• Demand for the sneakers would decrease

• Merchants would begin offering sales on the sneakers

• It would be impossible to find a pair in stores

If the cost of computers falls, then…

• the demand for computers goes up.
• the supply of computers goes up.
• none of the choices
• the demand for computers goes down.

Which of the following could cause the demand for airline travel to decrease? 

• The price for traveling by airplane decreases
• The price of traveling by airplane remains the same
• The price for traveling by airplane increases
• None of the choices

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

• rise
• fall
• stay the same
• Consumer

The desire or willingness a consumer has to purchase a good or a service is called?

• shortage
• supply
• price
• demand