supply and demand shifters

Front

If the price of printers goes down, what happens in the market for ink cartridges?

Back

Demand increases.

Front

Generally speaking, the lower the price, the greater the quantity demand.

Back

True

Front

For the law of demand, as price rises, what happens to quantity demanded?

Back

it goes down

Front

For the law of supply, as price rises, what happens to quantity supplied?

Back

it goes up

Front

What are Substitute Goods?

Back

Items that may replace each other when used or consumed.

Front

New robot technology increases productivity of car producers. What happens to market for cars?

Back

Supply shifts right

Front

Price of cars increase. What happens to market for cars?

Back

No change in supply

Front

Cost of steel increases. What happens to market for cars?

Back

Supply shifts left

Front

The diagram represents a

Back

increase in demand

Front

What causes the change in sales at the local grocery store when thousands of people leave a small town due to a factory closing down?

Back

Change in the number of buyers