If income increases and the price of a CD player falls, the price of a CD will _______ and the quantity of CDs bought will ________.

increase; decrease
decrease; increase
increase; not change
increase; increase

The table gives the demand and supply schedules for boat rides. If the demand for boat rides increases by 20 rides a day, the price will ___________.

rise to £10 a ride
rise to £6 a ride
fall to £6 a ride
remain unchanged

A processor of alligator hides can produce either purses or shoes. If the demand for alligator shoes increases, then the _________ purses will __________.

demand for; increase
supply of; increase
demand for; decrease
supply of; decrease

The figure illustrates the demand for and supply for jeans. Suppose that the wage rate paid to garment workers increases but initially the price remains at £50 a pair. The quantity demanded is _________ than the equilibrium quantity and there is a _____________.

greater; shortage
less; shortage
less; surplus
greater; surplus

During a hot summer, the demand for soft drinks increases while the supply of soft drinks remains the same. The price of a soft drink ___________ and the ____________.

increases; supply of soft drinks increases
increases; quantity supplied decreases
increases; quantity supplied increases
decreases; supply of soft drinks decreases

In the apple market, the demand and supply of apples increase by the same amount. The equilibrium quantity will________ and the equilibrium price will _______.

increase; remain the same
remain the same; increase
remain the same; either increase or decrease
increase; decrease

Apple juice and orange juice are substitutes in consumption and apple juice and apple sauce are substitutues in production. If the price of orange juice ___________ or the price of apple sauce __________, the price of apple juice will ________________.

increases; increases; increase
increases; decreases; increase
increases; decreases; decrease
decreases; increases; decrease

In the market for bananas, the price is £2.00 a bunch. An increase in demand increases the price of bananas ________________.

and increases the supply of bananas
and creates a surplus of bananas
but as the quantity supplied increases the price falls
and increases the quantity of bananas supplied

An increase in the demand for computers and an increase in the number of sellers of computers will _______________.

increase the price of a computer
increase the number of computers bought
increase the price and the number of computers bought
decrease the price but increase the number of computers bought

If good growing conditions increases the supply of strawberries and hot weather increases the demand for strawberries, the quantity of strawberries bought ______________.

doesn't change but the price increases
doesn't change but the price decreases
increases and the price increases
increases and the price might increase, decrease, or stay the same

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