DEMAND AND SUPPLY

Demand is referring to

• buyer

• seller

• producer

• none of the above

supply is referring to

• seller

• buyer

• buying side

• buyer and seller

slopping downward from left to the right is referring to

• supply curve

• demand curve

• supply and demand

• none from the above

a movement along the demand curve is due to the factor of

• whether

• price of related goods

• price of the good itself

• advertisement

a SHIFT in the supply curve is due to the factors of

• price of the good itself

• income

• technology

• advertisement

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

Printers and ink cartridges are typically purchased together. Economists would call these

• Substitute goods

• Complementary goods

• Inferior goods

• compulsory goods

A table that lists the quantity of a good that a single person will buy at each price in a market.

• individual demand schedule

• market demand schedule

• individual supply schedule

• market supply schedule

For the law of supply, as price rises, what happens to quantity supplied?

• it goes up

• it goes down

• it stays the same

• it is not effected

Generally, the lower the price of a goods, the smaller the quantity demand of the goods will be.

• True

• False