Demonstrate your understanding of demand, supply and market equilibriumwith this matching question A rise in the price of the good creates the income and substitution effects that result in Average household income falls for dried noodles, the result saw a decrease in equilibrium price The change caused An increase in the number of sellers will cause The equilbrium price increased, the quantity supplied increased, and so the change came from A decrease in supplyfor potatoes will be caused by Consider the fairness of giving each student the same grade in a course What are some of the considerations with respect to fairness Consider the situation of vaccine distribution If markets were used to distribute vaccines in a country what are some of the implicaitons Consider the following situation, a firm has completed the production run of winter tires There is an increase in demand for winter tires due to increaingly frequent bad weather How would you describe the elasticity of supply What are the implicaitons if demand increases Describe one incentive that you face in your life An market for a non perishable good is initially in equilibrium Then changes occur that create the expectation that prices will fall in the future Complete the following sentence In the current period, there will be a an decrease in A and a an increase in B leading to a an C in equilibrium price and a an D equilibrium quantity Describe a choice you have made that serves both your self interest and the social interest Consider the following scenario and categorize each in the four categories of factors of production We are looking at an farmer that produces almonds (a nut) in California, USA oA farmer as s he tends the orchard The tractor and harverster used in the orchard Bees that pollinate the almond trees The famer's understanding of the market for almonds The almond trees Sam can produce 5 face shields or 30 masks in one day Jo can produce 5 face shields or 10 masks in one day What is Sam's marginal cost of a face shield In what product does Sam have comparative advantage Will trade occur if the terms are set at 4 masks per face shield Why or why not The income elasticity of demand for movies is estimated to be 3 4 You are advising a movie theatre chain about an expansion Household incomes are expected to rise by 10 per cent over the next 5 years How can you use this information to inform the firm considering the expanion

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Demonstrate your understanding of demand, supply and market equilibriumwith this matching question.

A rise in the price of the good creates the income and substitution effects that result in.......
Average household income falls for dried noodles, the result saw a decrease in equilibrium price. The change caused....
An increase in the number of sellers will cause ...................
The equilbrium price increased, the quantity supplied increased, and so the change came from...
A decrease in supplyfor potatoes will be caused by ......

Consider the fairness of giving each student the same grade in a course.What are some of the considerations with respect to fairness?
Consider the situation of vaccine distribution.If markets were used to distribute vaccines in a country what are some of the implicaitons?
Consider the following situation, a firm has completed the production run of winter tires.There is an increase in demand for winter tires due to increaingly frequent bad weather.How would you describe the elasticity of supply? What are the implicaitons if demand increases?
Describe one incentive that you face in your life
An market for a non perishable good is initially in equilibrium.Then changes occur that create the expectation that prices will fall in the future. Complete the following sentence.In the current period, there will be a/an decrease in[A]and a/an increase in[B]leading to a/an[C]in equilibrium price and a/an[D]equilibrium quantity.
Describe a choice you have made that serves both your self interest and the social interest.
Consider the following scenario and categorize each in the four categories of factors of production. We are looking at an farmer that produces almonds (a nut) in California, USA.

oA farmer as s/he tends the orchard ........

Sam can produce 5 face shields or 30 masks in one day.Jo can produce 5 face shields or 10 masks in one day.

What is Sam's marginal cost of a face shield?
In what product does Sam have comparative advantage?
Will trade occur if the terms are set at 4 masks per face shield? Why or why not?

The income elasticity of demand for movies is estimated to be 3.4.You are advising a movie theatre chain about an expansion. Household incomes are expected to rise by 10 per cent over the next 5 years. How can you use this information to inform the firm considering the expanion?