AS 4.2

Match the best possible definition with the correct vocabulary term.

• The amount of goods and services consume

• Equilibrium

• A change in the amount purchased because

• Inverse

• opposite relationship

• Income Effect

• The amount of goods and services produce

• Demand

• Quantity demanded equals quantity suppli

• Supply

Match the best possible definition with the correct vocabulary term.

• How much consumers respond to changes in

• Shortage

• Government payments that offset producti

• Surplus

• Quantity demanded is greater than quanti

• Subsidies

• Quantity demanded is less than quantity

• Price Elasticity

• Rules and laws that force businesses to

• Regulation

Tags

NGSS.HS-ETS1-3

Which of the following are FACTORS OF DEMAND:

• Price

• Real Income Effect

• Utility

• Competition

Which of the following are examples of supply and demand working together?

• Equilibrium

• Shortages

• Surpluses

• Competition

Identify which of the following is NOT a change in demand

• Population

• Income

• Substitutes

• Technology

Identify the 3 Production costs of supply: 1. __________ 2. __________ 3. __________

• Fixed

• Variable

• Marginal

• Ingredients

Identify which of the following are changes in supply

• Price of Inputs

• Labor Prductivity

• Competition

• Technology

• All of the above

The __________ curve slopes down and to the right.

An __________ good is one in which change to price is relatively large.

The __________ of a good is the ability of a good/service to satisfy a consumer.