Economics

On the supply and demand graph the vertical axis is the ?

• equilibrium

• surplus

• quantity

• price

Match the following

• #

• price

• demand

• how many you want

• $

• how many there are

• supply

• quantity

What number is at the vertex of the price/quantity

• 1

• 2

• 100

• 0

When the supply and demand lines cross they are at?

• supply surplus

• excess demand

• equilibrium

• shortage

​ (a)   supply is ​ (b)   then demand ​ (c)   be high

• When
• low
• will

More supply then demand will create _____ prices

• equal

• higher

• increasing

• decreasing

When there is not enough of something it is ____?

• surplus

• cheap

• scarce

• unlimited

We have ​ (a)   wants but limited ​ (b)   which forces use to make ​ (c)  

• unlimited
• resources
• choices