WorksheetsPrice theory
Total questions: 15
Worksheet time: 29mins
Where suppliers and consumers meet is called the equation point.
True
False
A famous rock star dies. How does this affect the market for his/her music and memorabilia?
Which statement is not true?
Demand will decrease for the star's possessions.
Supply will increase making more copies of the music may be making a memorable album with hit songs
Price will decrease
DVDs are replaced by Netflix and Youtube.
Which statement is not true?
Demand will decrease for DVD's
Supply will increase for DVD's
Price will slightly decrease because more DVD's are sold
H&M has a big summer sale at the end of the season.
Which statement is true?
Demand will decrease for the clothing - therefore the sale
Demand will increase for the clothing
Price will stay the same
The supply of summer clothing will increase
A new supplier of umbrellas enters the market.
Which statement is true?
Demand will stay the same
Demand will increase
Demand will decrease
A new supplier of umbrellas enters the market.
Which statement is true?
Supply will stay the same
Supply will increase
Supply will decrease
A new supplier of umbrellas enters the market.
Which statement is true?
The price will likely stay the same
The price will likely increase
The price will likely decrease
When Starbucks entered the market what would happen to the supply of coffee?
Supply will stay the same
Supply will increase
Supply will decrease
When Starbucks entered the market what would happen to the prices of Seattle coffee to keep their customers?
Prices will stay the same
Prices will increase
Prices will decrease
What would likely happen to the supply and demand of big 4x4's and Suv's if petrol goes up?
Supply and demand will increase
Supply and demand will decrease
Prices for the 4x4's and Suv's will increase
Supply will go down and demand will go up
Complete the sentence -
When prices increase supply
Increase
Decrease
Stay the same
Complete the sentence -
When prices increase demand
Increase
Decrease
Stay the same
The season can have an effect on supply and demand.
True
False
The income levels in a country can have an effect on supply and demand.
True
False
The x-axis on the supply and demand curve will be where prices are depicted.
True
False
