Supply and Demand Shifters

Front

Why does the development of a new technology that advances the rate at which furniture can be assembled change the supply?

Back

Change in cost of production

Front

William and Charlotte are observing the market for bicycles. The graph shows which of the following changes in the market? (actually use this graph to answer the question)

Back

a decrease in quantity demanded and a decrease in supply (shift)

Front

Maya is studying the market for apples. Which of the headlines could indicate the pictured shift is occurring in the market?

• Pesticides on apples linked to mouth cancer.
• Storms destroy apple orchards.
• An apple a day really does keep the doctor away.
• New genetic strain leads to apple trees that produce twice as many apples.

Back

Storms destroy apple orchards.

Front

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

Back

The income of peanut butter consumers

Front

What will cause an increase in demand for snowboards?

Back

A decrease in the price of lift tickets at resorts in Colorado

Front

Nora runs a small bakery and notices that she has a surplus of cupcakes at the end of the day. What does this imply?

Back

Prices are too high

Front

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

Back

Demand for gasoline will increase

Front

Impact of new drilling activities in the Alaskan Arctic Preserve on the gasoline market?

Back

Supply for gasoline will increase

Front

Complementary Goods

Back

Goods that are commonly used with other goods

Front

Does the demand curve for smartphones shift if only the price of the smartphone changes?

Back

No, Because price does not shift the curve. Price stays on the line