Chap 3 Economics Flashcards
1
Q
What is the key factor that influences demand?
A
Supply
2
Q
What will make demand decrease?
A
Increase in prices
3
Q
What do we use to graph the quantity purchase at a specific price?
A
Supply and demand curve
4
Q
When would a supplier reduce prices?
A
If theres too much of a product and little demand for it
5
Q
Using interest rates to influence spending. Monetary or fiscal?
A
Monetary
6
Q
Using taxes to influence economic activities
A
Fiscal
