Relationship between Supply and Demand

If the demand for Caroline's handmade scarves increases, what direction will her demand curve go in?

• To the right

• To the left

• Stationary

If the demand for cauliflower decreases during a certain time period, then the price of cotton will increase.

• True

• False

Maleah charges $12 for a homemade t-shirt, if the demand is 40, how much revenue will she bring in?

• 52

• 72

• 440

• 480

Technological breakthroughs can shift a demand curve but not a supply curve.

• False

• True

If quantity demanded of socks is 500 and the quantity supplied is 700 will the price rise or fall?

• rise

• fall

If quantity demanded of socks is 500 and the quantity supplied is 700 will there be a surplus or shortage?

• Surplus

• Shortage

If Kelly wants to sell her mattress for no less than $200 and Emily wants to buy a mattress for no more than $350, what price would be the most appealing to Emily and least appealing to Kelly?

• $350

• $400

• $250

• $200

A decrease in the price of tacos might affect the supply curve for

• chocolate cake

• books

• pizza

• coal

If the price of vitamins decreases while the quantity demanded increases, how would this be reflected in the supply curve?

• The supply curve would shift leftward

• The supply curve would shift rightward

• The supply curve would not be affected

• none of the previous

What will happen to the price of a good when there is a shortage of that good?

• The price decreases

• The price increases

• The price will not be affected

• It cannot be determined from the information given