Microeconomics

A study of economics in terms of individual areas of activity or single factors.

• Macroeconmics

• Economics

• Microeconomics

• Personal Finance

Choose 2

What are the 2 sectors of microeconomics

• People

• Households

• Markets

• Business

This diagram shows the characteristics and/or relationships between households and businesses in the economy

• Market Structure

• Circular Flow Diagram

• Supply and Demand Graph

Choose 2

What are the two types of Microeconomics markets

• Business

• Households

• Product

• Resource

Demand is the quantity the _____________ is willing to buy

• Consumer

• Producer

Supply is the quantity the __________ is able to sell at a price.

• Consumer

• Producer

Quantity of the goods that the buyers are able matches the quantity being sold.

• Price Match

• Crossroads

• The Force

• Equilibrium Price

The seesaw is an example of which law?

• Law of Demand

• Law of Supply

The elevator is example of which law?

• Law of Demand

• Law of Supply

What is the cross section of the graph called?

• Price

• Quantity

• Supply

• Demand

• Equilibrium Price