[BBI] Supply & Demand Formative Assessment - M VanHeeswyk | Library

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1

Which of the following is represented by the arrows in the graph below?

SSEMI2.b

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Which of the following is the best example of the law of demand?

SSEMI2.a

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The expectation of a sale on a good/service in the future is most likely to lead to which of the following right now?

SSEMI2.b

SSEMI2.f

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Which of the following would likely cause the shift (illustrated by the arrow) shown below in the market for avocados?

SSEMI2.f

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Assume that chips and salsa are COMPLEMENTARY goods, meaning they are used together. How will the market for chips be affected if the price of salsa DECREASES to $1 per bottle?

SSEMI2.f

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Which of following is the best example of the Law of Supply?

SSEMI2.a

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Which of the following news headlines would cause the shift shown on the graph below (as illustrated by the arrows) in the market for cars?

SSEMI2.e

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The movement from P1, Q1 to P2, Q2 (as illustrated by the arrow) in the image below is best described as

SSEMI2.b

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Identify the spot that represents the market equilibrium on the following image.

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Select all of the spots that are part of the demand curve on the following image.

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Select all of the spots that are part of the supply curve on the following image.

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All else being equal, demand goes _______ when prices come down.

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All else being equal, supply comes down when prices come _______ .

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The "Demand" part of the Economic Principle of Suppy and Demand is from the _______ 's perspective.

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Match the examples in the left column with the correct category in the right column.

apple and orange
winter coat and winter boots
Desktop computer and laptop
Nike running shoes and Reebox running shoes

complementary goods
substitute goods