18 . If there is an increase in the income of market participants , which of the following is most likely to happen to the demand for normal goods ?
19 . Which one of the following would not cause an increase in demand for a commodity ?
20 . Concurrent with a significant downturn in the economy , the sale of Scope ' s high-end electronics decreased dramatically . Which of the following is the most likely direct cause of the decline in demand for Scope ' s products ?
21 . Which one of the following factors would not cause an increase in the supply curve of a commodity ?
22 . A supply schedule ( or supply curve ) shows the relationship between the quantity of a commodity that will be supplied during a period of time and
23 . If a change in market variables causes a supply curve to shift inward , which one of the following will occur ?
24 . When the cost of input factors to the production process increases , which one of the following will occur ?
25 . In the statement " quantity supplied is a function of price ," are the variables quantity and price dependent or independent variables ?
26 . An increase in taxes on cigarette production would cause which one of the following to occur ?
27 . What is the effect on the quantity of a commodity supplied relative to demand as a result of a government-mandated price ceiling or price floor ?
28 . A city ordinance that establishes a price ceiling on rent may cause