Supply and Demand

A change from Point A to Point E represents a(n):

• increase in demand.

• decrease in demand.

• decrease in quantity demanded.

• increase in quantity demanded.

Consumers buy more of something when it costs less:

• Law of supply
• Law of demand
• Law of purchase
• Law of trade

An increase in the cost of inputs (resources) will cause

• Demand to increase

• Demand to decrease

• Supply to increase

• Supply to decrease

Which of the following would not shift the supply curve for iphones?

• an increase in the price of iphones
• a decrease in the number of sellers of iphone
• an increase in the price of plastic, an input into the production of iphones
• an improvement in the technology used to produce iphones

An increase in the price of a complement will cause

• Demand to increase

• Demand to decrease

• Supply to increase

• Supply to decrease

The point at which the demand curve meets the supply curve:

• Equalizer
• Equilibrium
• Market Stability
• Intersection

A change from Point A to Point B represents a(n):

• increase in demand.

• decrease in demand.

• decrease in quantity demanded.

• increase in quantity demanded.

What causes movement along the supply curve?

• Taxes, Subsidies, Regulations, cost of inputs
• ONLY a change in price

What does this graph show?

• Shortage
• Surplus
• Supply Table
• Equilibrium

A year ago, there were 12 companies that made motorized scooters. But over the past month, 5 of those companies went out of business. What probably happened to the overall supply of motorized scooters?

• The supply probably went up.

• The supply probably went down.