Supply and Demand, attempt 2.
According to the market demand curve shown, what is the quantity demanded at $3.00 per taco?
13 tacos
How many more tacos will customers buy at $0.50, than at $3.00?
32
Assuming that bus travel is an inferior good, a decrease in consumer income will cause ...
A rightward shift in the demand curve for bus travel
During the summer months in the Outer Banks, an increase in tourists results in an increase in the demand for ice cream. This is an example of...
Change in number of buyers.
The Virginia minimum wage is increased and demand for movie tickets increases as a result. This is an example of what?
Change of income, normal goods.
When a demand for a product has increased, the...
Demand curve has shifted to the right.
If the demand for a good increases because consumer income increases, the good is called a ....
Normal Good
Movement along the demand curve is caused by a change in
Price
The market demand is the...
Sum of all the individual demand curves in a market.
"Robots Make Automobile Assembly Faster, Cheaper". How will this information likely affect the supply curve for cars?
Supply curve will shift right
Which of these would most likely increase the supply of soccer balls?
a decrease in the price of raw materials
In the summer picnic season, a sharp rise in the price of burgers may lean to an increase in the demand for ...
buns
As the excise Taxes increase, supply for the product which is taxed will
decrease
If the price of tacos increases from $1.00 to $3.00 the quantity demanded will...
decrease
Consumers expect the price of gas to increase next month, therefore, the current demand for gas will...
increase
If the price of tea increase, the demand for coffee will...
increase
As the Number of Sellers increases, the supply will
increase.
The law of demand refers to the...
inverse relationship between the price of a good and the quantity demanded
What will happen to the market demand curve when there is an increase in market demand unrelated to the prices of tacos?
it will shift to the right
Quantity demanded moves along the demand curve in response to changes in...
price
The demand curve is a graph that shows combinations of...
price and quantity demanded
The law of demand that as a quantity demanded decreases...
price increases
According to the law of supply...
producers are willing to supply larger amounts of a good as its price increases.
Supply depends on the willingness and ability of
producers to produce
Which of these is most likely to happen to demand for clothes in a clothing store when blizzards keep customers at home?
the demand curve shifts left
According to the law of supply, what happens as prices increases...
the quantity supplied increases
When economists say there is a decrease in the supply of a market...
the supply curve has shifted to the left.
