What does this graph represent? Options: Supply curve, demand curve, surplus, shortage
Economics 2024 Final
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12th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
Supply curve
2.
FLASHCARD QUESTION
Front
What does p1 represent? Options: Supply, Demand, Shortage, surplus
Back
surplus
3.
FLASHCARD QUESTION
Front
What does P1 represent? Options: supply, demand, shortage, surplus
Back
shortage
4.
FLASHCARD QUESTION
Front
What does the intersection represent?
Back
equilibrium
5.
FLASHCARD QUESTION
Front
What does the graph represent? Options: supply curve, demand curve, shortage, Surplus
Back
demand curve
6.
FLASHCARD QUESTION
Front
What do we call where the supply and demand curves meet?
Back
Equilibrium
7.
FLASHCARD QUESTION
Front
When price goes up supply increase. What is this idea known as?
Back
Law of supply
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