Quantity Supplied/Demanded
A movement along the demand curve to the right is called.
a increase in quantity demanded
Give 3 reasons the supply curve would shift to the left.
more gov't regulation
higher taxes
lower subsidies
expected higher profits in future
more expensive resources
less suppliers
less technology
A shortage is when this occurs.
The quantity demanded is higher than the quantity supplied
This form of business has 2 or more owners.
partnership
What is the main difference between perfect competition and monopolistic competition.
identical goods
What is a movement along the supply curve called.
A change in quantity supplied
Give 3 reasons the demand curve would shift to the left
less buyers
expensive compliments
cheaper substitutes
cheaper future prices
lower income
new dislike of the product
Give an example of a government regulated price ceiling.
Rent control
This business has unlimited liability.
sole proprietorship/general partnership
geographical
When the price of a good on the graph changes it is causes what to demand?
nothing
If a graph represented hamburgers being made, what will happen to supply when there is a new federal subsidy for beef producers?
Give an example of a government regulated price floor.
minimum wage or crop subsidies
What is the difference in taxation for a corporation and a sole proprietorship?
corporations are double taxed SP are regular tax.
Give an example of a natural monopoly.
any utilities
A movement along the supply curve to the left is called this.
a decrease in the quantity supplied
If a graph represented iPhones, what will happen to supply when the price of components to build iPhones goes up 40% in price?
What is shift to the left.
A binding price floor occurs on which side of equilibrium.
What is required to open a corporation?
Charter
What is an oligopoly?
A market that has only a few sellers/buyers.
When the supply curve shifts to the right it causes what for Quantity Demanded?
Increase in QD
How would a graph be represented for air conditioners when there is a summer heat wave?
What is a Shift in Demand to the Right
QD=QS
What is the owner of a corporation called?
Shareholder
Which of the following is common among shareholders and limited partners?
limited liability