price

Price: the Union of Supply and Demand

By Mr.GONZALES

Open Ended

Four Questions in One: What is your favorite thing? (Food, drink, service, subscription, etc.) What is the average cost of it? At what price would you not be willing to pay for it? Lastly, what would you do if it was

Multiple Choice

What market condition exists when quantity demanded is equal to quantity supplied?

• price

• equilibrium

• surplus

• shortage

Multiple Choice

What market condition exists when quantity demanded is is greater to quantity supplied?

• price

• equilibrium

• surplus

• shortage

Multiple Choice

Do markets tend to move toward . . .

• shortage

• surplus

• equilibrium

Multiple Choice

What happens to price during a surplus

• Rises

• Falls

Multiple Choice

What happens to price during a shortage

• Rises

• Falls

Multiple Choice

What market condition exists when quantity supplied is is greater to quantity demanded?

• price

• equilibrium

• surplus

• shortage