Supply
Demand
Equilibrium
Supply and Demand Curves
Supply and Demand Determinates
100
Supply is from the perspective of the ___________
Producer or Supplier
100
Demand is from the perspective of the ____________
Comsumer or buyer
100
Where is the point where the demand curve and supply curve cross?
Equilibrium
100
Is this showing an increase or decease in demand?
Decrease
100
I produce ovens and the price of steel just dropped by 30%.
Increase in Supply
200
This is the main goal of a supplier.
To make money or maximize profits
200
This is the largest factor in determining demand.
Price
200
When supply increases, it will always be true that
Price decreases and Quantity increases
200
Is this showing a increase or decrease in demand?
Increase
200
I am in the market for producing Coca-Cola. Nowadays people are liking the flavor of Sam's Cola better, their sales are up!
Decrease in supply
300
A decrease in the supply curve means the curve moves closer to the __________.
Left
300
The demand curve increases in quantity as price _______
Decreases
300
Equilibrium is called the "Market__________ Price"
Clearing
300
What is the term for a table or graph that shows the relationship between the price of a product and the quantity supplied by producers?
What is the supply curve?
300
I just got a raise for Christmas!
Increase in demand
400
According to the supply curve, as quantity increases, price ___________________
Increases
400
A product that must be used in conjunction with another product, like mustard on a hot dog.
What is a compliment?
400
When demand increases it will always be true that
Price increases and Quantity increases
400
What is the term for when consumers will buy more of a product at any given price ?
What is increase in demand or demand shift right ?
400
I sell cake mix and the price of frosting just raised.
Decrease in demand.
500
A movement along the curve is referred to as _______ in _______ supplied.
Change, Quantity
500
Another term for a change in demanded is a ________ in the demand curve.
Shift
500
If prices are below equilibrium, there is _______ supply than demand
Less
500
I sell lemonade and I have changed the price from $1 to $2. How will this affect the demand curve?
The curve will remain the same, this is Quantity Demanded
500
Economists predict that there will be a recission in the next year.
Decrease in demand