1. What can cause an entire demand curve to shift?
a. a decrease in price
b. an increase in price
c. uncertainty about the future price
d. a change in demographics
2. How did an improvement in the technology for producing digital cameras affect supply?
a. The supply curve moved to the left.
b. The supply curve moved to the right.
c. The demand curve moved to the right.
d. The demand curve moved to the left.
3. Which of the following will happen if the price of butter goes up?
a. The demand for butter increases.
b. The demand for margarine increases.
c. The demand curve for butter moves to the right.
d. The demand curve for margarine moves to the left.
4. Why is perfect competition among businesses rare?
a. Most businesses are small.
b. Most businesses produce commodities.
c. Most businesses face barriers to entry.
d. Most businesses require government control.
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