3: Demand And Supply Curves Flashcards
(16 cards)
Decrease in incomes leads to the decrease in the demand for iphones. This means iphone are
A normal good
Apple and bananas are substitudes. Increase in price of apples means what will happen to bananas?
The demand for bananas will shift right
Which of the following will lead to an increase in the demand for ibprofen?
Decrease in boxing gloves which are a compliment for ibprofen
Peanut butter and jelly are compliments. Price of peanut butter decreasing will do what for the market of jelly?
Demand for jelly will decrease
Diamond earings are a normal good. An increase to conusmer incomes will do what for the market of earings
Demand will increase
Silk in and important input for silk neckties. Increase in price of silk will do what for market or neckties?
Supply will decrease
What will lead to the decrease in demand for print cartridges?
Increase in price of printers (compliment), decrease of incomes of consumers (normal good), believe that prices will be lower in the future
What would cause a shift in supply of hand sanitizer to the right?
Decrease in the price of inputs used to produce and new technology to make more without using more inputs
A technology used to produce gas has deteriorated. This could be characterized as
A leftward shift in the supply for gas
Buyers believe price will increase one week from today. What will that do to the market this week
Demand will increase
Milk is input of butter. Decrease price of milk, what will happen to the market of butter?
Supply will increase
Price good a decreases. Demand for good b increases. What are goods a and b
They are compliments
The price of good x increases. Supply for good y decreases. What are goods x and y
X is and input of y
New technology produce more tvs without more inputs. What will happen to market
Supply will increase
Price is $10 cant sell above $5 what will happen to market?
Buys down and right along demand curve
Supplyers down and left along supply curve
A decrease in the price of jeans will do what to the demand curve?
A movement downward and to the right along the existing demand curve, without any shift to a new demand curve. Quantity demanded increases
