Supply and Demand

This part of the market determines DEMAND

• buyers
• sellers
• suppliers
• store owners

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

For the law of demand, as price rises, what happens to quantity demanded?

• it goes up
• it goes down
• it stays the same
• it is not effected

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

When quantity supplied and quantity demanded is equal

• surplus
• shortage
• equilibrium
• law of demand

Tags

CCSS.HSF-IF.C.7A

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

The law of demand states that if the price of CD’s rise, consumers will

• Buy more CDs
• Buy fewer CDs
• Quantity demanded will not change

Tags

CCSS.RI.11-12.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.8.7

CCSS.RL.9-10.7