SUPPLY SCENARIOS
Government provides subsidies to firms across the nation involved in making vaccines.what will happen to the supply curve?
Supply curve shifts right due to the lower cost in production from government subsidy.
Gas prices plummet and stay low for years. Consider the demand curve for SUVs.
Demand curve shifts right
Four factors of economy?
land,labor,capital,entrepreneurship.
what is land?
the part of the earth's surface that is not covered by water.
What was Twitter’s original name?
Twttr
New covid standards reduce productivity of hair dressers.What happens to the supply curve for haircuts?
Supply curve shifts left due to the decrease in productivity
Government enacts a tax on soda producers and the price of soda increases.what happens to the quantity demanded ?
Quantity demanded goes down
a object that satisfies a want?
GOODS
what is labor?
a force of production that refers to the work people do to produce goods and services
How many stars are on the European Union Flag?
12
The price of bicycle's goes up due to customer preferences.What will happen to the quantity of the bicycles?
Quantity will go up due to customers wanting more bikes
"Wait a year until technology improves before buying a 5G phone. What happens to demand curve?
Demand curve shifts left
things you must have to survive?:)
NEEDS
what is capital?
cash or liquid assets being held or obtained for expenditures?
What’s the most popular drink in the world that is not alcohol?
coffee
The price of cacoa beans plummets.what happens to the supply curve?
The supply curve shifts right
Gamers are upset over an increase in video game prices. What happens to demand curve ?
Demara curve shifts left
actions one performs for another?
services
Entrepreneurship?
the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
What does “HTTP” stand for?
HyperText Transfer Protocol
producers believe price of luggage will increase in six months.what will happen to supply curve?
supply curve would go left because nobody would want to buy luggage at high prices.
The price of electric cars drops because the government subsidizes manufacturers. What happens to quantity demanded?
Quantity demanded goes up
LIMITED RESOURCES MEANING
only so many goods to go around.
minimum wage?
the lowest wage permitted by law or by a special agreement.
Which country invented tea?(its not britain)
china