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Supply and Demand Review #2

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Last Review Game for Economics and Supply & Economics and Demand

AugustHubert
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Created Date 10.09.20
Last Updated 10.12.20
Viewed 6 Times
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Topics of this game:
  • What is a good that our demand increases for when our income increases?
  • Nike is working to determine what styles are currently in demand amongst teenagers. Which determinant of demand is this?
  • What are the determinants of Demand?
  • Your ________ to pay for something reflects your ________ for that item.
  • Which concept relate to people swapping a more expensive item for a less expensive one?
  • What are the determinants of Supply?
  • What is the relationship between supply and demand?
  • Which concept below matches the definition, "amount of goods available"?
  • What is the Law of Supply?
  • What possibly occurs when a new business enters the market?
  • Select the concept below that relates to "food" *Hint: food you buy/eat*
  • Which determinant of supply is SIMILAR but not 100% the SAME as the determinant of demand, Consumer Expectations?
  • What is the motive for production?
  • How can you find the percentage change for elasticity if I DO NOT give you the percents?
  • Which of the following forms of elasticity is considered short-term?
  • Which of the following has the definition of "costs that don't change (rent, property taxes)"?
  • What is the marginal product of labor?
  • What is the "equation" that relates to profit when discussing supply?
  • If we are discussing the ELASTICITY of DEMAND, which "type" relates to consumers continuing to buy in spite of price changes?
  • The ______ of demand determines how much income a business will bring in when prices change.