SUPPLY AND DEMAND!

Relationship of price and supply

• Direct

• Inverse

• Reverse

• Definite

This best describes a market.

• A place where a Grade 9 student can complain about the formula of Head and Shoulders

• A place where a Grade 9 student can complain that face mask is expensive

• A place where fresh meat is sold

• A place where transaction between the producers and consumers

Pepper has already consumed five cups of rice and does not want to have anymore.

• Bandwagon effect

• Diminishing marginal utility

• Income effect

• Substitution effect

Francine believes that her money has more value hence, buying the “buy one, get one” offer of Aquaflask.

• Bandwagon effect

• Diminishing marginal utility

• Income effect

• Substitution effect

Nelson does not mind that the price of Pocari Sweat has increased because there are other “related goods”.

• Bandwagon effect

• Diminishing marginal utility

• Income effect

• Substitution effect

Raw materials coming from Russia and Ukraine are difficult and expensive to ship because of the ongoing war, hence, the limited supply of potatoes to make fries.

• Price of resources

• Number of producers

• Subsidy

• Expectation

Kenneth decides that his company will produce more umbrellas in July to November (rainy season in Metro Manila).

• Price of resources

• Number of producers

• Subsidy

• Expectation

The proliferation of hole-in-the-wall samgyupsal restaurants in the metro.

• Price of resources

• Number of producers

• Subsidy

• Expectation

The money “given” by the government so farmers can produce more crops.

• Price of resources

• Number of producers

• Subsidy

• Expectation

Qd stands for __.

• Quantity decided

• Quantity demanded

• Quantity deducted

• Quantity decimal