1. Review for CA UNIT 4 Supply & Demand / Markets Money & Banking Unit

2. list all answers that apply
3. On a supply and demand graph, supply will decrease and shift to the left when which of the following happens? A There are more government regulations in place. B The total costs of inputs decreases. C Competition increases. D Production taxes rise over a short period of time. E The producer expects the cost of materials to be reduced in the month ahead
4. On a supply and demand graph, supply will increase and shift to the right when which of the following happens? A There are more government regulations in place. B The total costs of inputs decreases. C Competition decreases. D Production subsidies rise over a short period of time. E There is improvement in technology

3. REVIEW for Unit 4 TEST Few sellers Many barriers to market entry
On a supply and demand graph, supply will increase and shift to the right when which of the following happens?
There are more government regulations in place
The total costs of inputs decreases.
Competition increases. (Number of suppliers increases)
Production taxes rise over a short period of time
New technology is developed
More than 1 answer!!
Few sellers
Many barriers to market entry
Little product differentiation
Concern with Price fixing
WHAT DOES THIS DESCRIBE?

4. REVIEW for Unit 4 TEST Few sellers Many barriers to market entry
On a supply and demand graph, supply will increase and shift to the right when which of the following happens?
There are more government regulations in place
The total costs of inputs decreases.
Competition increases. (Number of suppliers increases)
Production taxes rise over a short period of time
New technology is developed
Few sellers
Many barriers to market entry
Little product differentiation
Concern with Price fixing
WHAT DOES THIS DESCRIBE? Oligopoly

5. In a supply and demand graph what happens if the cost of parts for cell phones decreases? Hint: Is is supply or demand? Does it increase or decrease? Which way does the graph move?
For most products and services, increased price results in
Demand for fewer or more products?
Supply for fewer or more products?
Substitutes? Compliments?
Jessica has been wearing a popular style sneaker for several years; and she loves them. Recently, because the price increased by $30, she has not been able to afford them on her meager salary. Many of her friends are in the same position. How will the price affect the quantity demanded and supplied?
Advertising, fashion trends, and new product introductions serve to

6. In a supply and demand graph what happens if the cost of parts for cell phones decreases? Hint: Is is supply or demand? Does it increase or decrease? Which way does the graph move?
For most products and services, increased price results in
Demand for fewer or more products?
Supply for fewer or more products?
More Substitutes
Less Compliments
Jessica has been wearing a popular style sneaker for several years; and she loves them. Recently, because the price increased by $30, she has not been able to afford them on her meager salary. Many of her friends are in the same position. How will the price affect the quantity demanded LESS and supplied MORE?
Advertising, fashion trends, and new product introductions serve to change CONSUMER TASTE and move the demand curve

7. In a market economy, a high price is a signal for
Producers to supply ____
Consumers to buy____
In a supply and demand graph what happens if the cost of parts for products decreases?
Large number of sellers Little control over prices Some product differences Easy to enter market What type market structure does this describe? Which has only 1 seller?

8. In a market economy, a high price is a signal for
Producers to supply more
Consumers to buy less
In a supply and demand graph what happens if the cost of parts for products decreases? Supply graft shifts to the RIGHT
Large number of sellers Little control over prices Some product differences Easy to enter market What type market structure does this describe? MONOPOLISTIC COMPETITION Which has only 1 seller? MONOPOLY