1/ Several studies have shown promising links between green teaconsumption and cancer prevention. How does this affect the marketfor green tea?
A) The demand for green tea curve shifts to the right because of achange in tastes and preferences in favor of green tea.
B) The supply of green tea curve shifts to the right because of achange in tastes and preferences in favor of green tea.
C) The demand for green tea curve shifts to the left because thisnew information will surely increase the price of green tea.
D) The supply of green tea curve shifts to the right because thisnew information will surely increase the price of green tea.
2. Technological advancements have resulted in lower prices fordigital cameras. What is the impact of this on the market fortraditional photography?
A) The demand curve for traditional photography shifts to theright.
B) The demand curve for traditional photography shifts to theleft.
C) The supply curve for traditional photography shifts to theright.
D) The supply curve for traditional photography shifts to theleft.
E) None Of The Above
3. How does the increasing use of digital cameras affect the marketfor traditional camera film?
A) The demand curve for camera film shifts to the left.
B) The demand curve for camera film shifts to the right.
C) The supply curve for camera film shifts to the left.
D) The supply curve for camera film shifts to the right.
E) None Of The Above
4. Tom Searchinger, a senior attorney at the Environmental Defensefund, observed that generous farm subsidies have made it lucrativefor farmers to produce more corn and more wheat. How does thisimpact the market for fertilizer?
A) The supply of fertilizer increases.
B) The supply of fertilizer decreases
C) The demand for fertilizer increases.
D) The demand for fertilizer decreases.
E) None Of The Above
1/ Several studies have shown promising links between green teaconsumption and cancer prevention. How does this affect the marketfor green tea?
A) The demand for green tea curve shifts to the right because of achange in tastes and preferences in favor of green tea.
B) The supply of green tea curve shifts to the right because of achange in tastes and preferences in favor of green tea.
C) The demand for green tea curve shifts to the left because thisnew information will surely increase the price of green tea.
D) The supply of green tea curve shifts to the right because thisnew information will surely increase the price of green tea.
2. Technological advancements have resulted in lower prices fordigital cameras. What is the impact of this on the market fortraditional photography?
A) The demand curve for traditional photography shifts to theright.
B) The demand curve for traditional photography shifts to theleft.
C) The supply curve for traditional photography shifts to theright.
D) The supply curve for traditional photography shifts to theleft.
E) None Of The Above
3. How does the increasing use of digital cameras affect the marketfor traditional camera film?
A) The demand curve for camera film shifts to the left.
B) The demand curve for camera film shifts to the right.
C) The supply curve for camera film shifts to the left.
D) The supply curve for camera film shifts to the right.
E) None Of The Above
4. Tom Searchinger, a senior attorney at the Environmental Defensefund, observed that generous farm subsidies have made it lucrativefor farmers to produce more corn and more wheat. How does thisimpact the market for fertilizer?
A) The supply of fertilizer increases.
B) The supply of fertilizer decreases
C) The demand for fertilizer increases.
D) The demand for fertilizer decreases.
E) None Of The Above
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1 an imperfect market, individual firms
A.are always able to set the price of their product. |
B.are able to influence the price of their product. |
C.have no influence over the price of their product. |
D.take the market price as given. 1 Which of the following is NOT characteristic of a market economy?
2 In a competitive market, the price of the product is
3 Which of the following firms participates in a competitive market?
4 In an imperfect market, individual firms
5 Which of the following firms operates as a monopoly?
6 According to the law of demand, what is the relationship between price and quantity demanded?
7 Refer to the following graph. The demand curve slopes downward because
8 A change in which of the following will cause a change in the quantity demanded of coffee?
9 Suppose that burgers and fries are complements in consumption. If the price of fries increases
10 Suppose that Coca Cola and Pepsi are substitutes in consumption. If the price of Coca Cola decreases, then
11 According to the law of supply, what is the relationship between price and quantity supplied?
12 Refer to the graph below. The supply curve is _______________ driven by the law of supply.
13 A change in which of the following will cause a change in the quantity supplied of coffee?
14 Which of the following will cause a rightward shift in the supply curve for tobacco?
15 Flour is a factor of production of cupcakes. How will an increase in the price of flour affect the market for cupcakes?
16 Refer to the following image. When a market is in equilibrium, which of the following is true?
17 Refer to the following figure. At a price of $15, this market is experiencing a(n)
18 Refer to the following figure. At a price of $5, this market is experiencing
19 Suppose pasta salad is a normal good. If the price of pasta (a major ingredient in pasta salad) increases and income also increases, the
20. What must happen to the market price in order for a shortage to be eliminated?
|