Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Eco
Test Description: Supply and Demand
Instructions: Answer all questions to get your test result.
1) The cost of microchips for computers is raised. How does the supply graph change and what non-price factor is shown?
A
Change in other goods prices; Shift right
B
Cost of inputs; Shift left
C
Cost of inputs; Shift right
D
Change in other goods prices; Shift left
2) The government increases minimum wage to $10 an hour. Which demand non-price factor is represented and how is the graph changed?
A
Number of buyers; Shifts left
B
Consumer income; Shift left
C
Number of buyers; Shift right
D
Consumer income; Shift right
3) An advertisement is released stating cell phones can cause cancer. What non-price demand factor is represented and how is the demand graph changed?
A
News report; Left
B
News report; Right
C
Advertising; Right
D
Advertising; Left
4) A new machine is added to the assembly line. How does this change the supply graph and which supply non-price factor is represented?
A
Shift left; Change in technology
B
Shift right; Change in technology
C
Shift right; Complement goods
D
Shift left; Complement goods
5) The place where QD and QS are equal is...?
A
Supply Equilibrium
B
Demand Equilibrium
C
Market Equilibrium
D
Demand schedule
6) Demand is ____ related to price while supply is ____ related to price.
A
Directly, Directly
B
Inversely, Directly
C
Directly, Inversely
D
Inversely, Inversely
7) When QS is greater than QD this causes a?
A
Price change
B
Shortage
C
Surplus
D
Equilibrium
8) A chart that lists QD at each and every price is?
A
Demand scheduled
B
Demand curve
C
Demand margin
D
Demand chart
9) If goods are a necessity, if they are hard to find substitutes for, or if they are difficult to delay the purchase they are?
A
Elastic
B
Substitute
C
Inelastic
D
Compliments
10) Sprite and 7-up; Mr. Pib and Dr. pepper are examples of what type of goods
A
Substitute goods; inelastic
B
Substitutes goods; elastic
C
Compliments goods; elastic
D
Compliment goods; inelastic
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?