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Question 11.In which direction will a change in quantity shift the supply?
Question 22.Which is the greatest factor in the shift of an upwards sloping supply curve?
Question 33.In which direction will the market supply curve slope when suppliers want to sell more goods at higher prices?
Question 44.Which of the following refers to a list of goods at a price that a person is willing to pay across all markets?
Question 55.Which of the following refers to a table that lists the demand for a product across all markets?
Question 66.What is the scope of a market demand schedule?
Question 77.There is a request for 10 million widgets at $0.10 each. What is this called?
Question 88.Which of the following is an example of a list of goods at a price that a person is willing to pay?
Question 99.A surplus exists when _____ occurs.
Question 1010.Which of the following refers to the point where the supply and demand curves intersect?
Question 1111.Both the supply curve and the demand curve have shifted. What does this mean for the price?
Question 1212.Demand has increased for goods and services. How would this be represented on a demand curve?
Question 1313.Price is the greatest driver of the _____ economic rule.
Question 1414.In what way will the change in price shift demand?
Question 1515.In which direction would the demand curve slope when people buy fewer goods at higher prices?
Question 1616.A new manufacturing technique has made the price of the widget so low that now people are willing to buy it. What principle is this an example of?
Question 1717.The market supply schedule is a table that lists the quantity supplied in all economies at all possible _____.
Question 1818.The cost per widget and the number of widgets to be supplied is shown on the _____.
Question 1919.Why do economists use a a demand schedule?
Question 2020.What is a market demand schedule?
Question 2121.Which of the following factors would NOT lead to a shift in the demand for an item?
Question 2222.The demand curve below shows the demand for bananas at different prices. According to this demand curve, what quantity of bananas would be demanded at a price of 40 cents?
Question 2323.The image is a demand and supply schedule for cakes. What is the market equilibrium price?
Question 2424.When a market price is set above the market equilibrium price, a _____ exists, which will _____.
Question 2525.What does a shift of the demand curve to the right indicate?
Question 2626.An increase in household incomes across the nation leads to an increase for the demand for coffee. How would the demand/supply curve change?
Question 2727.What is a market supply schedule?
Question 2828.What is quantity supplied?
Question 2929.The _____ of a good, the _____ that suppliers are willing and able to supply.
Question 3030.A shift in the supply of a good or service is impacted by all of the following except:
Demand, Supply and Market Equilibrium Chapter Exam Instructions
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