Supply And Demand: Question Preview (ID: 16972)

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_________________ pay close attention to the needs and activities of consumers.
a) Suppliers b) Extractors c) Controllers d) producers
As competition increases, prices
a) usually increase as well b) are not affected so usually will not change c) will decrease d) There is no way to predict what will happen to prices due to competition
The point where supply and demand are equal
a) market price b) equilibrium c) perfection d) goal
Factors influencing demand are
a) uniqueness of the product b) weather c) quality d) All of the above
Businesses offering very similar products to the same customers
a) Rivals b) Wannabes c) Brand partners d) competitors
the quantity of a good or service that CONSUMERS are willing and able to buy.
a) Supply b) Profit c) Demand d) increasing
the quantity of a good or service that BUSINESSES are willing and able to provide
a) Demand b) Supply c) merchandise d) Christmas items
An example of a producer is a(n)
a) Farmer b) Construction worker c) Plumber d) Beautician
A person who buys and uses goods and services
a) Trader b) Buyer c) Consumer d) Producer
Consumers are made up of.....
a) individuals b) businesses c) government d) All of the above
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