L03 Supply and Demand part 1
Presentation
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Social Studies
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University
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Practice Problem
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Medium
Rachel Shafer
Used 2+ times
FREE Resource
42 Slides • 8 Questions
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Poll
Who would YOU side with in the dispute over the flute?
Ana, the child who can play the flute.
Bob, who has no other toys.
Carla, who made the flute.
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Multiple Choice
If the price of oreos falls from $3 to $2, what does the Law of Demand lead us to predict will happen in the market for oreos?
The quantity demanded of oreos will increase
The quantity demanded of oreos will decrease
The demand curve will shift to the left
The demand curve will shift to the right
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Multiple Choice
If the price of movie tickets rises from $15 to $20, what does the Law of Demand lead us to predict will happen in the market for movie tickets?
The quantity demanded of movie tickets will increase
The quantity demanded of movie tickets will decrease
The demand curve will shift to the left
The demand curve will shift to the right
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Multiple Choice
The price of a Burger King Whopper falls. How will this affect the market for Big Macs? (You may assume that some consumers think that a Whopper is a substitute for a Big Mac.)
The demand curve for Big Macs will shift to the right
The demand curve for Big Macs will shift to the left
The demand curve for Big Macs will not change
There will be a movement along the demand curve, to a greater quantity demanded
There will be a movement along the demand curve, to a lesser quantity demanded
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Multiple Choice
You get a pay raise at your job. How will this affect your demand for steak dinners? (Hint: Imagine that you love steak dinners.)
Your demand curve for steak dinners will shift to the right
Your demand curve for steak dinners will shift to the left
Your demand curve for steak dinners will not change
There will be a movement along the demand curve, to a greater quantity demanded
There will be a movement along the demand curve, to a lesser quantity demanded
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Multiple Choice
You get a pay raise at your job. How will this affect your demand for generic cheese? (Hint: Imagine that you have a taste for fancy and expensive cheeses.)
Your demand curve for generic cheese will shift to the right
Your demand curve for generic cheese will shift to the left
Your demand curve for generic cheese will not change
There will be a movement along the demand curve, to a greater quantity demanded
There will be a movement along the demand curve, to a lesser quantity demanded
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Multiple Choice
The price of your favorite beverage falls. Whenever you enjoy this beverage, you get a craving for pizza (because you always drink this beverage with pizza). How will the lower price of the beverage affect your demand for pizza?
Your demand curve for pizza will shift to the right
Your demand curve for pizza will shift to the left
Your demand curve for pizza will not change
There will be a movement along the demand curve, to a greater quantity demanded
There will be a movement along the demand curve, to a lesser quantity demanded
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Multiple Choice
Doctors discover that oranges cure baldness. How will this affect the market for oranges?
The demand curve for oranges will shift to the right
The demand curve for oranges will shift to the left
The demand curve for oranges will not change
There will be a movement along the demand curve, to a greater quantity demanded
There will be a movement along the demand curve, to a lesser quantity demanded
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