demand and supply

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

• rise
• fall
• stay the same
• Consumer

When the demand for a product or service is higher than the supply this causes what?

• shortage
• consumer
• surplus
• equilibrium

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

• damand
• price
• producer
• shortage

The desire or willingness a consumer has to purchase a good or a service is called?

• shortage
• supply
• price
• demand

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

The point where supply and demand are balanced is?

• product
• demand
• surplus
• equilibrium

When there is a shortage the price will usually? 

• rise
• fall
• remain the same
• equilibrium

This part of the market determines DEMAND

• buyers
• sellers
• suppliers
• store owners

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 demand, as price rises, what happens to quantity demanded?

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