Supply and Demand Review Worksheet

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Supply and Demand Review Worksheet Name________________ 1. With increases to mass transit availabilities and increased urban congestion, the popularity of subways, buses, and carpools increases. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_dec_ d. Qs_dec__ 2. Due to problems between the unions and the management during collective bargaining, the auto workers go on strike. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_inc_ d. Qs_dec_ 3. Due to a higher level of accidents among young drivers and higher dropout rates, legislatures around the country raise the driving age from 16 to 18. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_dec_ d. Qs_dec_ 4. A new synthetic rubber is developed that decreases the price of tires to automobile producers. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _inc_ c. $_dec_ d. Qs_inc_ 5. Due to higher number of accidents, the insurance cost for drivers under the age of 25 is increased 35%. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_dec_ d. Qs_dec_ 6. Oil prices worldwide decrease and result in a decrease in the price of gas. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _inc_ c. $_inc_ d. Qs_inc_

7. Higher costs in the airline industry result in airplane ticket prices increasing 65%. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _inc_ c. $_inc_ d. Qs_inc_

8. Due to increased federal subsidies, the price of riding the city bus is reduced 25%. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_dec_ d. Qs_dec_ 9. The President's tax reform plan is passed by congress. As a result, the income taxes paid by the average American will decrease by 20%. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _inc_ c. $_inc_ d. Qs_inc_ 10. Expensive new pollution control equipment is required on all new cars sold in this country. Which of the following changes in price and quantity of cars will result for this action? a. D or S b. _dec_ c. $_inc_ d. Qs_inc_ 11. Recent well publicized research indicates that many fish now being caught in the ocean contain harmful chemicals. Which of the following changes in price and quantity of fish will result for this action? a. D or S b. _dec_ c. $_dec_ d. Qs_dec_

12. Due to a drought in wheat growing areas, bread producers are faced with increased cost for wheat. Wheat is a key ingredient in bread. Which of the following changes in price and quantity of bread will result for this action? a. D or S b. _dec_ c. $_inc_ d. Qs_dec_ 13. A freeze in the eastern part of the country has destroyed half of the tomato paste crop, a key ingredient in pizza. Which of the following changes in price and quantity of pizzas will result for this action? a. D or S b. _dec_ c. $_inc_ d. Qs_dec_

14. Pizza producers in an area develop a system for making pizzas which cuts the cost of labor in half Which of the following changes in price and quantity of pizzas will result for this action? a. D or S b. _inc_ c. $_dec_ d. Qs_inc_

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Supply and Demand Review Worksheet

Supply and Demand Review Worksheet Name________________ 1. With increases to mass transit availabilities and increased urban congestion, the popularit...

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