Supply and Demand Quiz

Descripción

Test sobre Supply and Demand Quiz, creado por brendacrystal07 el 23/10/2014.
brendacrystal07
Test por brendacrystal07, actualizado hace más de 1 año
brendacrystal07
Creado por brendacrystal07 hace alrededor de 10 años
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Resumen del Recurso

Pregunta 1

Pregunta
In a supply and demand graph, when the demand line shifts to the right, the demand increases.
Respuesta
  • True
  • False

Pregunta 2

Pregunta
Taxes and subsidies are variables that can affect the supply shift factor.
Respuesta
  • True
  • False

Pregunta 3

Pregunta
When the price on an item increases, the supply provided by the sellers decreases.
Respuesta
  • True
  • False

Pregunta 4

Pregunta
When talking about the elasticity of demand, the price of an item is not important.
Respuesta
  • True
  • False

Pregunta 5

Pregunta
A market takes place when more than one buyer and seller are present.
Respuesta
  • True
  • False

Pregunta 6

Pregunta
In an inelastic graph, there is a huge change in demand when the price shifts.
Respuesta
  • True
  • False

Pregunta 7

Pregunta
The graph of elastic supply is less horizontal compared to the inelastic graph
Respuesta
  • True
  • False

Pregunta 8

Pregunta
The production of Jolly Ranchers is an example of inelastic supply
Respuesta
  • True
  • False

Pregunta 9

Pregunta
When a supply curve shifts to the left, that symbolizes an increase in supply.
Respuesta
  • True
  • False

Pregunta 10

Pregunta
The point where the supply curve meets the demand curve shows a shortage.
Respuesta
  • True
  • False
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