1. Holding all else constant, what will happen when the price for ski-lift tickets rises? A: the amount of skiers rises. B: the supply of ski hills falls. C: the demand of falls of other winter sports. D: the sales for ski equipment falls.
2. A baker expects the price of bread to fall next year. How is the baker going to respond to lower future prices? A: They will supply more bread now. B: They will supply less bread now. C: They will supply more bred next year. D: They will not change the supply of bread in response to a change in future prices. D: They will not change the supply of bread in response to a change in future prices.
3. Which of the below will NOT shift the demand curve for hot dogs? A: Price of hamburgers( a substitute for hot dogs) changes. B: Price of hot dogs changes. C: Price of hot dog buns changes. D: income of hot dog buyers changes.
4. If the price of coffee beans falls, then a coffee shop's ______ curve shifts to the ______ . A: Supply; right. B: demand; left. C: supply; left. D: demand; right.