Demand
The Law of demand.
What is as the price of an item increases the quantity demanded of that item increases.
The Law of Supply.
What is the direct relationship between price and quantity supplied.
Equilibrium.
When P=Q, no shortage, no surplus.
Awards to make up an EGOT
A change in quantity demanded.
What is when there is a shift in the amount of an item demanded.
Change in quantity supplied.
When the price is above equilibrium.
What is a surplus.
The rarest M&M color
What is brown.
Change in demand.
What is a change in the consumers need/want to buy an item.
Change in supply.
What is a shift in the amount of product supplied.
When the price is below equilibrium.
What is a shortage.
Scotland's national animal
What is the Unicorn.
When consumers begin to spend more money, shifting the curve.
What is a change in income.
When the government gets involved, and shifts the supply curve.
What is Government Policies.
People earn more so they spend more.
What is a shift in demand. Moving the curve. Caused by increase in income.
In the state of Georgia it is illegal to eat this with a fork.
What is fried chicken.
When items connected to the product change prices.
What is change in price of related goods.
When more suppliers enter the market.
What is change in the number of suppliers.
The government intervenes, preventing a product from getting onto the market.
What is a decrease in supply, shifting the curve. Caused by government policies.
Term used to refer to a group of frogs.
What is an army.