Supply
Popularity of Garden Gnomes Soars
What is TRIBE - T- Consumer Tastes -Demand?
hot dog and buns
What are complements?
Prices of Bananas skyrockets - Affect on production of Strawberry Banana Smoothies
What is ROTTEN - R - Input Costs - SUPPLY?
Any point on a supply and demand curve that is not where the two curves meet is called this
What is disequilibrium?
Iphones and Android Phones
What are substitutes?
When supply curve shifts to the right, what affect does it have on the equilibrium price
What is decrease?
A war wipes out 50% of US
What is TRIBE - B - Market Size - DEMAND?
Give one example of a price floor, what does a price floor create?
What is Minimum wage, surplus?
Red sox set price limit on tickets for 2012 season at $50 this is a example of a...
WHat is a Price Ceiling?
Give an example of a government action that can cause a shift in supply
What is an Excise tax, subsidy?
ZOWWEE brand comes out with a line of talking toys to compete with WOWWEE's fingerlings
What is ROTTEN - N - # of Producers SUPPLY?
A chart that helps an business determine at what prices demand will increase
What is a demand schedule?
Government declares that student loan interest rates must be higher than 8%
What is a Price Floor?
A surplus of supply is typically created by government initiation of this
What is a Price Floor?
Minimum wage gets raised from 8 bucks to $15/hour
What is TRIBE - I - Income - DEMAND?
If a price ceiling is set below the equilibrium it results in this kind of disequilibrium
What is shortage?
Stanley and Owala Mugs vs Artic mugs are examples of what types of goods
What are Normal and Inferior goods?