Year 10 Economics - Markets, Demand, Supply

A group of buyer and sellers of a particular good or service

• Supply
• Demand
• Agency
• Market

This part of the market determines DEMAND

• buyers
• sellers
• suppliers
• store owners

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

If a price is above equilibrium price, it creates a...

• shortage
• surplus
• market price
• demand

If a price is below the equilibrium price it creates a...

• shortage
• surplus 
• market price 
• supply

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

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

• damand
• price
• producer
• shortage

An individual or group who purchases goods.

• producer
• consumer
• goods
• services

The point where supply and demand are balanced is?

• product
• demand
• surplus
• equilibrium