12b Supply and Demand

Front

What does this curve represent? Options: demand, supply, equilibrium, shortage

Back

supply

Front

What does this curve represent? Options: supply, equilibrium, demand, surplus

Back

demand

Front

What is equilibrium price?

Back

The price where supply and demand intersect.

Front

Back

A

Front

What is determined by the interaction of supply and demand?

Back

Price

Front

According to the chart, how many cars are supplied at $50,000?

Back

80

Front

According to the chart, what would happen if the price drops from $1.50 to $.50?

Back

Not everyone will get pizza.

Front

What is the equilibrium price?

Back

Equilibrium price: $20