Supply, Demand and Equilibrium

The change shown in the graph is a ______

When demand is greater than supply, a _________ will result 

The change shown in the graph below is a

A change in _______ is always a result of a change in price

The idea that as prices rise consumers will replace expensive items with less costly items

When supply is greater than demand, a _________ will result.

The law of demand states that as price increases, the quantity demanded of a product will _____

The law of supply says that at a higher price, __________ will be offered for sale 

When quantity supplied is equal to quantity demanded:

Increase in the price of milk causes a decrease in the demand for cereal. The two products are

The change in the graph below is an example of

A government payment to a business to help economic growth is called a