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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.
Which of the following companies would be most directly affected by an increase in the minimum wage?
Match each product with the event that will most directly affect its cost of production.
This question is about the market for STM tickets.
Which of the following events will not shift the demand curve to the left?
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?
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?
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?
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?