Supply and Demand

Front

If price goes up,

Back

demand goes down

Front

When the demand for a product or service is higher than the supply this causes what?

Back

shortage

Front

Factors that cause the supply or demand to change are called?

Back

shifter

Front

A person or company that makes, grows, or supplies goods to sell is called the?

Back

producer

Front

The desire or willingness a consumer has to purchase a good or a service is called?

Back

demand

Front

The amount of goods or services available is called?

Back

supply

Front

An individual or group who purchases goods.

Back

consumer

Front

The point where supply and demand are balanced is?

Back

equilibrium

Front

When there is a shortage the price will usually?

Back

rise

Front

In economics these concepts are called? Options: rise and fall, supply & demand, customers and products, surplus and shortage

Back

supply & demand