Supply & Demand
What is on the Y axis for the Supply and Demand graph?
Price
the gradual decrease in the economic value of an asset over time
Depreciation
Which of the following accounts for why countries specialize in particular trade in products?
A.) Government regulations
B.) Variation in the size of markets
C.) Unequal distribution of resources
D.) Variety in the types of economic systems
C.) Unequal distribution of resources
What is the Law of Demand?
As the price rises, the quantity demand falls
Which Pokemon does Ash choose to be his?
Pikachu
What is on the X axis on the Supply and Demand graph
Quantity
an increase in the value of an asset over time
Appreciation
One way the United States could increase exports of sports cars would be to
A.) Negotiate to lower tariffs on sports cars
B.) Reduce gasoline taxes in the United States
C.) Increase the exchange rate of the American Dollar
D.) raise the prices of sports cars in the United States
A.) Negotiate to lower tariffs on sports cars
What is the law of supply?
As the price rises, the quantity supplied rises
How many Houses are at Hogwarts. Bonus if you name them all
4. Gryffindor, Slytherin, Ravenclaw and Hufflepuff
Which 'Curve' has a positive slope
Supply
A marketing situation in which there are a large number of sellers of a product which cannot be differentiated and, thus, no one firm has a significant influence on price
Supporters of protectionism would argue that free trade adversely affects which group of people?
A.) Workers
B.) Consumers
C.) Shareholders
D.) Multi-national corporations
A.) Workers
If there is a SURPLUS what has to happen. (Supply and Demand)
Qd<Qs
Name the only person other than Thor to lift Mjolnir
Steve Rogers or Captain America
Which 'Curve' has a negative slope
Demand
The exclusive possession or control of the supply of or trade in a commodity or service.
One Seller
Complete barriers to market entry
Monopoly
The market structure of pure competition is distinctive because --
A.) only one seller is needed in this market structure
B.) there are no examples of this type of market structure
C.) the sellers in this market structure have no control over price
D.) There are large number of barriers to entry into this market structure
B.) there are no examples of this type of market structure
What are the sources of comparative advantage
Differences in technology
Differences in climate
Differences in factor endowments
How many squares are on a chess board
64
What is the point where the supply curve and the demand curve intersect.
Market equilibrum
-- is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners
Comparative advantage
The late 20th century has been characterized by an increase in free trade agreements. Advocates of free trade argue that it results in --
A.) high unemployment
B.) increased immigration
C.) lower corporate tax rates
D.) increased economic growth
D.) increased economic growth
A stronger U.S dollar means what?? (think trade)
U.S imports will increase AND U.S exports will fall
Who is literally the best Economic teacher at willis high school for the first semester.
Ya boi Mr. Logan