Money ball supply and demand basics

law of demand states - the higher the price the ........... consumers will be prepared to buy

A decrease in the price of a good will

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

Which way does a supply curve slope?

• down
• up
• both
• neither

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

The diagram represents a(n)

• increase in supply
• decrease in supply
• change in quantity supplied
• none of the above

How many cup holders are producers willing to supply at a price of $2.50?

• 3,000
• 4,000
• 5,000
• 7,000

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

This part of the market determines DEMAND

• buyers
• sellers
• suppliers
• store owners

The diagram represents a

• increase in demand
• decrease in demand

What factor could have caused the demand to decrease for AFL football?

• incomes increased
• soccer is less popular

• a decrease in the price of a soccer tickets and membership

• increase in market size