Answer Happy

Please assist on answering all the questions below
QUESTION 1 Kgomotso decided to start selling lemonade on her street. The other kids in the neighbourhood noticed that Kgomotso was making a lot of money selling lemonade. These kids decided to open their own lemonade stands. What will happen when they open their lemonade stands? A. The supply of lemonade will not be affected. B. The supply of lemonade will increase. C. The quantity of lemonade demanded will decrease. D. The quantity of lemonade supplied will increase. Question 2 Tea and coffee are considered substitute goods. Because of this, one would predict that if the price of tea increases, we would see A. the demand curve for coffee shift to the left. B. no change in the demand for coffee. C the demand curve for coffee shift to the right. Question 3 Movements along the supply curve are likely to be caused by А. decreases in the price of alternative products. B. the number of firms leaving the market. cost increasing changes in technology D. changes in the price of the good. C. Question 4 If products A and B are substitutes, products B and Care complements and the markets for products A and Care unrelated, which one of the following statements regarding the markets for products A, B and C is true? A. A decrease in the price of product A will result in an increase in the demand for product C. B. An increase in the price of product B will result in an increase in the demand for product A. C. An increase in the price of product B will result in an increase in the demand for product C. D A decrease in the price of product A will result in an increase in the demand for product B. Question 5 What does the law of supply imply? A. As the price of bunny chows decreases, the number of bunny chows supplied will decrease. B. As the supply of bunny chows increases, the price of bunny chows will increase. C. The price of bunny chows and the number of bunny chows supplied are inversely related. D. As the price of bunny chows increases, the more bunny chows will be sold. Question 6 Supply can be defined as A. the provision of the goods and services to satisfy the unlimited wishes or desires of people. B. the quantities of a good or services that producers plan to sell during a certain period. C. the quantities of a good or services that potential buyers are willing and able to buy. D. the number of goods and services that can be bought on the open market Question 7 7 Which of the following is likely to occur if a market is not in equilibrium? A. The supply curve will shift to bring the market to equilibrium. B. The demand curve will shift to bring the market to equilibrium. C. The demand curve and the supply curve will shift to bring the market to equilibrium D. The price will adjust to bring the market to equilibrium.