Supply & Demand Review

This states the quantity demanded varies inversely with its price

The price for burritos increases by 25%, the quantity demanded for burritos decreases by 25%

Change in price alters a consumers real income- Buy one Get one.

Hot Dogs become more popular so more sellers enter the market.

The government increases the taxes on Mrs. Hoose's cupcake factory- supply of cupcakes decrease

Deals with behavior and decision making by individuals and businesses.

An increase in price of the Big Mac causes a decrease in demand for French Fries.  The two are

Amount of product that would be offered for sale at all available prices in the market

Everyone is too busy playing on their phones so their homework doesn't get done.

Gasoline

At Finish Line Browns jerseys are Buy one get one half off.

Movement ALONG the demand curve would be caused by a change in

A price increase has little or no effect on demand. The product is

As the price increases the supply increases

Consumers demand more Taco Bell because the price of Burger King has increased.

Tropicana OJ company increases supply after a study shows OJ cures cancer

Mrs. Hoose's mixer broke down so the supply of her cupcakes decreases.

The #2 and #3 pair of shoes I bought doesn't have the same usefullness and satisfaction as #1

Mike gets a bonus at work so now he can afford that new pair of Jordans.