WorksheetsExtension of Demand: The Role of Time in Demand
Total questions: 10
Worksheet time: 8mins
If the price of printers goes down, what happens in the market for ink cartridges?
Supply increases.
Supply decreases.
Demand increases.
Demand decreases
PRICE and Supply have what type of relationship?
When supply for a product increases due to high demand, think about what happens to the price.
Also consider that if a business is making MORE of a certain product, what would they need to happen with the price?
Similar relationship - they move in the same direction
Opposing / Inverse relationship - they move in different directions
As Supply decreases, Demand ___________
Increases
Decreases
Stays the same
Is not affected by Supply
As Supply increases, Demand ___________
Increases
Decreases
Stays the same
Is not affected by Supply
When there is a surplus of Christmas decorations at Walmart but a low demand for these products, what happens to the price of the products?
The price decreases
The price stays the same
The price increases
Price is not affected by supply & demand
