Markets quiz practice questions - WK 2 1. The FDA signals it intends to take Juul cigarettes off the market In one month. How will this announcement by the FDA affect the market for Juul cigarettes? a) Market - juul cigs b) Expectations future availability c) Increase demand - graph A d) RESULTS - price up quantity up 2. Conditions are perfect in Iowa for growing red Delicious apples. At the same time red delicious apples become more popular with consumers. How will these two events affect the market for Red Delicious apples? a) Market apples b) Increase # of sellers c) Increase supply - graph C d) Result P down Q up a) Market apples b) Increase preferences c) Increase demand - graph A d) Result P up Q up FINAL RESULTS - Q up P Indeterminate 3. During the pandemic lockdown, consumers found it necessary to purchase PCs. Today, Far fewer buyers are interested in purchasing personal computers. How will this event affect the market for personal computers? a) Market personal computers b) Decrease number of buyers c) Decrease demand - graph b d) Results price down quantity down 4. A significant increase in the price of oil increases the price of jet fuel. How will this event affect the market for airline travel? a) Market airline travel b) Increase resource price c) Decrease supply - graph d d) Results price up quantity down