Supply Demand

Movement along a supply curve demonstrates

• a change in quantity supplied

• a change in quantity demanded

• a change in supply

• a change in demand

A shift in a supply curve demonstrates

• a change in quantity supplied

• a change in quantity demanded

• a change in supply

• a change in demand

This image best represents:

• An increase in demand

• A decrease in demand

• A decrease in quantity demanded

• An increase in quantity demanded

According to the law of demand, the relationship between "price" and "quantity demanded" is:

• Inverse

• Direct

• Not correlated

An observer of this graph would say that it represents a(n):

• Increase in demand

• Decrease in demand

• Increase in quantity demanded

• Decrease in quantity

An observer of this graph would say that it represents a(n):

• Increase in supply

• Decrease in demand

• Decrease in quantity demanded

• Increase in quantity supplied

A decrease in the price of a good will

• increase supply.
• decrease supply.
• increase quantity supplied.
• decrease quantity supplied.

A decrease in the price of a good will

• Decrease quantity supplied
• Decrease demand

Point at which supply and demand come together

• price ceiling
• excess demand
• equilibrium
• disequilibrium

The 'law of supply' suggests that

• price and quantity supplied are directly related

• price and quantity supplied are inversely related

• movements along the supply curve are caused by a price fall

• supply will expand until market equilibrium is reached