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

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 place where buyers and sellers of a particular good or service interact

• Supply

• Demand

• Agency

• Market