AE- QUIZ # 3

A ____________ or the amount of good or service consumers are willing to purchase at each price.

_____________ is what a buyer pays for a unit of the specific good or service.

The total number of units purchased at that price is called the ______________.

A____________ is any activity for business set-up. It is where consumer buys and the seller sells.

It is categorized as local, national and _____________.

____________ is the value of goods and services that buyers are willing to purchase in every price.

• DEMAND

• SUPPLY

• DEMAND SCHEDULE

• SUPPLY SCHEDULE

The ____________ consumers will demand a lower quantity of a good. The low price of the good influences the consumer to buy more.

FACTORS AFFECTING DEMAND

• Income of buyers

• Consumers Trends

• Number of Competitors

• Production capacity

FACTORS AFFECTING SUPPLY

• Income of buyers

• Consumers Trends

• Number of Competitors

• Production capacity

___________ describes the total value of a good or service that is available to customers.

• DEMAND

• SUPPLY

• DEMAND SCHEDULE

• SUPPLY SCHEDULE