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SOPHIA ECON102 Unit 2 Milestone Latest 2022/SOPHIA ECON102 Unit 2 Milestone Latest 2022

SOPHIA ECON102 Unit 2 Milestone Latest 2022/SOPHIA ECON102 Unit 2 Milestone Latest 2022

Question 1
In economic terms, which of the following happened when cupcakes went from being homemade treats to being specialized gourmet goodies with multiple TV shows devoted to them and people waiting in line for them?
Question 2
Which graph below correctly illustrates a scenario in which the regular price for a set of four tires is $250, but Erin finds a store that has the tires she needs on sale for $175?
Question 3
Which of the following would NOT cause a shift in the supply curve for cheese?
Question 4
Jack is willing to pay as much as $1,300 for a new camera but is happy to find one he likes that costs $400.
Select the term below that corresponds to this situation.
Question 5
If the market price of a product happens to be at equilibrium, which of the following will happen next?

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