2. Gimme! Gimme! Make It, Take It! It’s Kind’a Shifty That’s Too Graphic That’s Still Too Graphic 10 20 30 40 50

3. Question 1 - 10 Demand is made up of these two things.

4. Answer 1 – 10 What is DESIRE to own something and the ABILITY to pay for it?

5. Question 1 - 20 The Law of Demand states that if prices go down, this will happen to demand.

6. Answer 1 – 20 What is go up?

7. Question 1 - 30 The Substitution Effect says that if the price of a normal good goes up, demand for a substitute good will do this.

8. Answer 1 – 30 What is go up?

9. Question 1 - 40 Elasticity of Demand measures this.

10. Answer 1 – 40 What is how sharply customers will react to price changes.

11. Question 1 - 50 When the demand for cell phones goes up, the demand for chargers also goes up because these two items are this.

12. Answer 1 – 50 What are Complements? (Complementary Goods)

13. Question 2 - 10 Supply is made up of these two things.

14. Answer 2 – 10 What is the amount of a good a producer is WILLING AND ABLE to produce at a given price?

15. Question 2 - 20 The Law of Supply states that as the price of a product falls, producers will do this.

16. Answer 2 – 20 What is make LESS of the product?

17. Question 2 - 30 Advancements in technology tend to have this effect on supply of certain goods.

18. Answer 2 – 30 What is INCREASE SUPPLY at a given price?

19. Question 2 - 40 This is the ultimate goal of a producer when deciding on whether or not to make more or less of a good.

20. Answer 2 – 40 What is to MAXIMIZE PROFITS ?

21. Question 2 - 50 When customers demand more than producers are able to supply, this is created.

22. Answer 2 – 50 What is a SHORTAGE ?

23. Question 3 - 10 If the DEMAND curve shifts to the right, it indicates that this has happened.

24. Answer 3 – 10 What is DEMAND HAS GONE UP for some reason?

25. Question 3 - 20 If the SUPPLY curve shifts to the right, it indicates that this has happened.

26. Answer 3 – 20 What is SUPPLY HAS GONE UP for some reason?

27. Question 3 - 30 If DEMAND drops, this is the direction the DEMAND curve moves.

28. Answer 3 – 30 What is to the LEFT?

29. Question 3 - 40 If SUPPLY drops, this is the direction the SUPPLY curve moves.

30. Answer 3 – 40 What is to the LEFT?

31. Question 3 - 50 If SUPPLY drops, this is the direction the DEMAND curve moves.

32. Answer 3 – 50 What is IT DOESN’T MOVE AT ALL.

33. Question 4 - 10 IT is what is measured on the VERTICAL AXIS.

34. Answer 4 – 10 What is PRICE?

35. Question 4 - 20 This is indicated by the HIGHLIGHTED line?

36. Answer 4 – 20 What is DEMAND?

37. Question 4 - 30 What is measured on the HORIZONTAL AXIS?

38. Answer 4 – 30 What is QUANTITY?

39. Question 4 - 40 The name of the point indicated here:

40. Answer 4 – 40 What is EQUILIBRIUM?

41. Question 4 - 50 It’s the value found at the bottom left side of curve.

42. Answer 4 – 50 What is ZERO?

43. Question 5 - 10 It’s the action shown below:

44. Answer 5 – 10 What is DEMAND IS SHIFTING RIGHT (demand is increasing)?

45. Question 5 - 20 It’s what happens to price when the following happens:

46. Answer 5 – 20 What is PRICE RISES?

47. Question 5 - 30 An economist makes this to predict how a large number of people will change their buying habits when prices increase or decrease. In hundreds of dollars  In thousands of  bushels

48. Answer 5 – 30 What is a MARKET DEMAND SCHEDULE?

49. Question 5 - 40 If a PRICE FLOOR (lowest possible price for a product) is imposed by an outside force, this is created:

50. Answer 5 – 40 What is a SURPLUS?

51. Question 5 - 50 A shortage is created when an outside force imposes this “roomy” term.

52. Answer 5 – 50 What is a PRICE CEILING?