24-25 Economics Unit 2 Final Exam Review

Front

What happens to a supply curve when supply decreases?

Back

moves left

Front

The diagram represents a(n)

Back

increase in supply

Front

The number of units of a good or service produced and offered for sale at a specific price is known as

Back

Quantity supplied

Front

Supply is defined as

Back

the willingness and ability of producers to offer goods and services for sale

Front

As prices increase, ______________ decreases.

Back

Quantity Demanded

Front

What is this picture of? Options: Demand Schedule, Demand Curve, Utility

Back

Demand Curve

Front

Demand includes people who are willing and _____________ to buy a product.

Back

Able

Front

If a bunch of people move into a community, what will happen to demand for some products in that community?

Back

Increase

Front

If a bunch of people lose their jobs in an area, what will happen to demand for some products?

Back

Decrease

Front

if the number of suppliers of an item increase, then supply will

Back

increase