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Introduction to Economics💰

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The following questions are about the production side.

Watch out! These are a bit tricky. When you answer these, you have to forget about demand and consumption. Imagine yourself as a producer of these items.

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Which of the following companies would be most directly affected by an increase in the minimum wage?

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Match each product with the event that will most directly affect its cost of production.

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This question is about the market for STM tickets.

Which of the following events will not shift the demand curve to the left?

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Suppose the price of nail polish goes down, other things equal. How would you show the impact of this event on the market for nail polish remover?

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Suppose the price of home entertainment system goes down, other things equal. How would you show the impact of this event on the market for Plasma TV?

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Suppose the price of home nail polish kits goes down, other things equal. How would you show the impact of this event on the market for ready-made coloured fake nails?

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Suppose the price of LED TV goes up, other things equal. How would you show the impact of this event on the market for PlayStation 5?

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