Supply, Demand, Price, Ethics, Social Responsibility

The quantity of a good or service that people are willing and able to buy is called what?

• supply

• demand

• price

• revenue

The higher the price...

• the higher the demand

• the lower the supply

• the lower the demand

The quantity of a good or services that businesses will make available at various prices is called what?

• demand

• price

• supply

• suplus

The higher the price...

• the higher the quantity supplied

• the higher the quantity demanded

• the more the company will sell

The point on the supply and demand curve where quantity demanded equals quantity supplied is called the what?

• the surplus

• the equilibrium point

• the shortage point

What is it called when supply is greater than demand?

• surplus

• shortage

• equilibrium

What is it called when demand is greater than supply?

• shortage

• surplus

• equilibrium

As price goes up, quantity goes down.

Is this a supply or demand curve?

• Demand

• Supply

As price goes up, quantity goes up.

Is this a supply or demand curve?

• Supply

• Demand

What is the equilibrium Price and Quantity?

• Price $100

  Quantity 700

• Price $80

  Quantity 900

• Price $80

  Quantity 700