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The supply curve for stand up paddle boards:

a. shifts when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the vertical axis of the graph.

b. shifts when the price of stand up paddle boards changes because the quantity supplied of stand up paddle boards is measured on the horizontal axis of the graph.

c. does not shift when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the vertical axis of the graph.

d. does not shift when the price of stand up paddle boards changes because the price of stand up paddle boards is measured on the horizontal axis of the graph.

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Sonal Bahl
Sonal BahlLv10
1 Oct 2020

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Related questions

When quantity demanded decreases in response to a change in price,

A. the demand curve shifts to the right.
B. the demand curve shifts to the left.
C. there is a movement down along the demand curve.
D. there is a movement up along the demand curve.
E. the supply curve shifts to the right.

The price elasticity of demand is the measure of the responsiveness of the demand for a good to a percentage change in the price of that same good. When the demand for a good changes due to an increase or decrease in the price of the good, it can be said that the good has a price elastic demand. On the other hand, a good whose demand is not significantly affected by a change in the price levels is price inelastic. For example, luxury goods are usually price elastic because these are not something that most people really need. Thus, when the price of luxury goods increases, the demand for such goods falls. Goods that fall within the latter category are usually the basic necessities such as food and prescription medicine. Even when these types of goods become pricier, most people would find ways to afford them because they need those items to survive. 

When looking at a graph of aggregate demand, which of the following is correct?

a. There are nominal variables on both the vertical and horizontal axes.

b. There are real variables on both the vertical and horizontal axes.

c. The variable on the vertical axis is real; the variable on the horizontal axis is nominal.

d. The variable on the vertical axis is nominal; the variable on the horizontal axis is real.

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