Early Exploration

how much of something consumers want

(a)  

royal family consisting of a king or queen

(a)  

how much of something is available

(a)  

each person can have only a fixed amount of food & water

(a)  

rebel against someone

(a)  

a group of people belonging to the noble class in a country

(a)  

the action of preserving something

(a)  

a district under the pastoral care of a bishop in the Catholic Church

(a)  

How does demand impact the price of goods & services?

• when demand is high, price is high

• when demand is high, price is low

• demand does not impact price

How does supply impact the price of goods & services?

• When supply is high, price is high

• when supply is high, price is low

• supply does not impact the price