The point of balance where demand and supply come together: 

When there is too much of a product than what is needed or used, there is a: 

This occurs when the quantity supplied is not equal to the quantity demanded: 

What are government imposed, legal minimum and maximum price levels that can be charged for a good or service? 

Which of the following best describes when suppliers can easily increase or decrease their quantity supplied in the short-run? 

Costs that rise or fall depending on the quantity produced: 

The fixed costs and variable costs added together is the: 

What is the person or organization that provides a good or service in the marketplace called?  

 Which law states that high prices give businesses an incentive to produce; low prices cause producers to reduce production? 

 What represents the cost of producing the good; the increases/decreases based on the materials necessary to produce, such as dough for pizza? 

 ____________ improves the ability to produce and increases ability to supply. 

 Which of the following is a government payment that supports a business or a market? 

 __________ is when the government increases rules, which reduces the ability to supply. 

 Increases in human capital such as ____________ can increase the ability to produce. 

 Which of the following is the correct term for when natural disasters such as an earthquake, hurricane, etc. disrupts supply? 

 What is the value of a product as established by supply and demand, and serves as a link between producers and consumers? 

 Which of the following does NOT show disequilibrium? 

 With _____________, the quantity demanded is greater than the quantity supplied at the current price. 

 Which law states that the price of any good adjusts to equilibrium? 

 During one of the videos we watched, a man was arrested for selling generators and violating which law? 

 Which of the following is a well-known price floor? 

 When suppliers have difficulty changing the quantity supplied, this is an example of: 

The amount of “stuff” that is produced by firms and offered for sale: