12b Supply and Demand

Front

What does this curve represent? Options: demand, supply, equilibrium, shortage

Back

supply

Front

What does this curve represent? Options: supply, equilibrium, demand, surplus

Back

demand

Front

What is equilibrium price?

Back

The price where supply and demand intersect

Front

Back

A

Front

What is determined by the interaction of supply and demand?

Back

Price

Front

According to the chart, how many cars are supplied at $50,000?

Back

80

Front

According to the chart, what would happen if the price drops from $1.50 to $.50? Options: Pizza makers will make more money, The cost of producing pizza will rise, Not everyone will get pizza, Everyone is able to have pizza

Back

Not everyone will get pizza

Front

What is the equilibrium price?

Back

$20