Demand
Supply
Market Equilibrium
Market Disequilibrium
Mixed Questions
100
Price and quantity demanded are inversely related.
What is law of Demand?
100
The change in the price of the product itself.
what is moving along a supply curve?
100
An institution that brings together buyers and sellers.
What is Market?
100
Government interfere with the rationing function of prices.
What are price Floors and price Ceil
100
It drives market prices up.
What is a shortage?
200
The horizontal sum of individual demand curves.
What is market Demand?
200
Firms leaving an industry.
What could cause the Supply to decrease?
200
Changes in the determinants of both supply and demand will generally
What is changes in equilibrium price and quantity?
200
Government imposing a price that results in a product shortage.
What is price Ceilings?
200
An increase in quantity supplied might be caused by............
What is increase in price?
300
The relationship between price and quantity demanded.
What is Demand?
300
The horizontal sum of individual supply curves.
What is Market Supply?
300
A decrease in market equilibrium price and an increase in equilibrium quantity?
What is increase in Supply?
300
Government is imposing a minimum legal price that is typically above the equilibrium price
What is Price Floors?
300
An increase in demand accompanied by an increase in supply will increase the equilibrium quantity, but the effect on equilibrium price...........
What is Undetermined?
400
When the price of a product increases, a consumer is able to buy less of it with a given money income.
What is the income effect?
400
An improvement in production technology.
What caused the Supply to increase?
400
If supply is S1 and demand D0, F represents a price that would result in......... 
What is shortage?
400
Government sets a legal price that result in a surplus of wheat.
What is price Floors?
400
Consumers buy more of normal goods as...........
What is increase in income?
500
When the price of Nike soccer balls fell, Ronaldo purchased more Nike soccer balls and fewer adidas soccer balls.
What is the substitution effect?
500
The price of oil declines significantly.
What is decrease in quantity supply of gasoline?
500
Quantity must decline, but equilibrium price may rise, fall, or remain unchanged.
What is both supply and demand curves decrease?
500
The salsa manufacturers sell 2 million bottles at $3.50 in one year and 3 million bottles at $3 in the next year.
What is increased in the supply of Salsa?
500
Toothpaste and toothbrushes are..............
What are complement goods?