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Ncsu Ec 201 Exam 1 Study Guide

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NCSU EC 201 EXAM 1 STUDY GUIDE

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NCSU EC 201 EXAM 1 STUDY GUIDE
increase in price of a substitute - Answers :inc in demand

increase in consumer income - Answers :inc in demand

expectation of higher prices in the future - Answers :inc in demand, dec in supply

inc in the # of consumers - Answers :inc in demand

inc in consumer tastes and preferences - Answers :inc in demand

dec in price of a substitute - Answers :dec in demand

dec in consumer income/wealth - Answers :dec in demand

expectation of lower prices in the future - Answers :dec in demand, inc in supply

dec in # of consumers - Answers :dec in demand

dec in consumer tastes and preferences - Answers :dec in demand

improvement of technology in production - Answers :inc in supply

decrease in the price of inputs - Answers :inc in supply

inc in the # of firms - Answers :inc in supply

reduction of technology of production - Answers :dec in supply

inc in price of inputs - Answers :dec in supply

dec in # of firms - Answers :dec in supply

Inc in demand - Answers :P- inc
Q- inc

Dec in demand - Answers :P- dec
Q- dec

Inc in supply - Answers :P- dec
Q- inc

Dec in supply - Answers :P- inc
Q- dec

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