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If prices rise and income stays the same, what is the effect on demand?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
Farmer Brown has ten dairy cows. The cost of feed goes up, but milk production stays the same. What does Farmer Brown do?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
How can expectations about the future change consumer behavior?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
Which most affects a supplier’s decision to make more or fewer goods?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
What does technology generally do to production?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
Owners of digital cameras have to buy memory cards in order to use the cameras. Cameras and memory cards are
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
What is the effect of import restrictions on supply?
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
If a seller expects the price of a good to rise in the future, the seller will
the wish to make the most profit
complements
Fewer goods are bought.
It lowers cost and increases supply.
They cause the available supply of goods to drop.
She raises milk prices.
store these goods until the price goes up.
Immediate demand for a good will rise if its price is expected to rise.
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