Supply and Demand

Employees at Ford receive a wage increase on their new contract (Ford cars)

When buyers purchase exactly as much as sellers are willing to sell, what is this called??

There is a increase in demand, what happens to price and quantity

Which graph?TCI, the manufacturer of our economics book, decides to raise its prices.

There is a decrease in supply, what happens to price and quantity

Scientists breed a new chicken that lays twice as many eggs each week (eggs)

Government imposes a tax on companies that produce bug spray (bug spray)

There is a decrease in demand, what happens to price and quantity

If gas prices skyrocket to $5.00 per gallon, how would the market for bus passes be affected?

There is an increase in supply, what happens to price and quantity

Which of the following is true when there is a shortage in the market?

The Twins have had a great season and are playing in the World Series (Twins tickets)