Definitions
The definition of supply
What is the amount of a product manufactured and ready to sell by a company?
Draw a Supply Graph
Yeah
What is the supply going down?
What has occurred with a demand of 90 and a supply of 65
What is a shortage?
The T is TIRES
What is taste?
The definition of demand
What is the amount desired of a product by the fan?
Draw a Demand Graph
Yuh Huh
A wages go up across the country
What is demand rising?
What has occurred at a demand of 1,246,794 and a supply of 1,246,795
What is a surplus?
The I in TIGERS
What is International Events/Disaster?
The definition of equilibrium
Where is supply and demand the same?
Draw an Equilibrium Graph
Gottem
The price of sugar goes down (you sell cake)
What is demand going up?
At demand plot points $1 - 2000, $2 - 1800, $3 - 1600, $4 - 1400, and $5 - 1200 and supply plot points $1- 1400, $2 - 1600, $3 - 1800, $4 - 2000, and $5 - 2200, where is the largest surplus? Each plot point is structured "(Price - Supply or Demand).
Where is price point $5?
DAILY DOUBLE
List every Tigers and Tires component
What is:
Technology
International Event/Disaster
Government Intervention
Expectation of Price Change
Resource Costs
Sellers
and
Taste
Income
Related Goods
Expectations of Price Change
Size of Market
?
The definition of surplus
What is it when the amount of a product produced exceeds the desire for that product?
Draw an equilibrium graph with a positive shift in supply
Erm
A new company starts selling ice cream and the World health organization sours on lactose.
What is supply going up and demand falling?
At demand plot points $1 - 2000, $2 - 1800, $3 - 1600, $4 - 1400, and $5 - 1200 and supply plot points $1- 1400, $2 - 1600, $3 - 1800, $4 - 2000, and $5 - 2200, where is the smallest shortage? Each plot point is structured (Price - Supply or Demand).
Where is point $2?
A concert in a city gets cancelled, meaning a large group of potential customers for a late-night food spot don't come.
What is size of Market?
The definition of shotage
What is it when the desire for a product exceeds the number produced?
Draw an equilibrium graph with a positive effect on demand and a negative effect on supply
oh
You run a textbook company. The government adds a extra tax on all manufactured paper products and 2 new schools open in your local school district.
What is supply falling and demand going up?
Using demand plot points $1 - 2000, $2 - 1750, $3 - 1500, $4- 1250, and $5-1000 and supply plot points $1- 1250, $2 - 1500, $3 - 1750, $4 - 2000, and $5 - 2250, would you have a surplus or shortage at a the floor of $3? Each plot point is structured "(Price - Supply or Demand).
A Surplus
Caleb Williams gets sponsored by new matcha location
What is taste?