IncEc1 Supply/Demand
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| If the demand for cars increased, what would happen to the price of cars? | Increase
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| If the supply of carrots decreased, what would happen to the price of carrots? | Increase
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| What would happen to the equilibrium price and quantity of used cars, an inferior good, if incomes increased? | Price would decrease;
Quantity would decrease
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| What would happen to the price and quantity of computers if the government increased the amount of regulations on the production of computers? | Price would increase;
Quantity would decrease
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| What would happen to the price and quantity of gas if the supply of gas on the market increased? | Price would decrease;
Quantity would increase
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| If the cost of making coffee went down, what would happen to the price of coffee? | decrease
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| If there is an oil spill, what will happen to the supply of oil, and then what will happen to the price of oil as a result? | Supply would decrease;
Price would increase
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| If there is a drought, what will happen to the supply and price of wheat? | Supply would decease;
Price would increase
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Created by:
Gwen Schleif
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