Week 8

How does good advertising affect the demand for a product?

demand will increase

Equilibrium is where the quantity--- equals the quantity ---.

demanded, supplied

Supply and demand is a basic principle of:

economics

Co-signing a loan is an excellent financial decision.

false

It's ok if you just briefly look at a contract before signing it

false

If demand for an item rises, and supply stays the same, the price will----- . If the demand for an item goes down, and the supply stays the same, the price will ---.

increase, decrease

A contract is a __________ agreement between two entities.

legal

The "right to _____________" entitles the signer of a loan a certain amount of days to rescind, or cancel, the contract.

recission

This Christmas, there is a huge demand for the hottest toy. Every parent you know is trying to make sure this toy is under the tree for their little boy or girl. What would you expect this rise in demand for a popular toy to do to the price?

The price will rise

In economics, ---is the amount of a resource that producers are willing and able to produce for the marketplace. ---- is a consumer's desire to purchase goods and services and what they are willing to pay for those goods and services.

supply, demand

If the market is over-flooded with a certain group of laborers (for example, construction workers), based on the law of supply and demand, what will potentially happen to the wages of these workers?

they could decrease

According to Proverbs 11:15, whoever cosigns for a stranger will_______________

will be hurt

Which of the following will use online contracts?

Netflix, instagram