Supply and Demand

Elastic items...

Which of the following is not a determinant of supply?

Which of the following are not determinants of demand?

Supply is the quantity of a good/service that ___ are willing and able to ___ at various prices

It is safe to assume that new technology will ____ _____

When you gage what the price of a good will be today or tomorrow

The law of demand states that as the price of a good decreases, the quantity demanded

Washers, dryers; cookies, milk; ham, cheese

Materials, wages, resources

If thousands of people die from the Black Plague...

Coke and Pepsi would be considered...

If the price of memory chips for computers quadruples, supply will...

The use of science to develop new products/new methods of producing and distributing

Surgery, medication, gas

If everyone got a raise at their job

If the demand for a product increases, the curve will shift to the

A demand curve

Goods that naturally go together, you might buy these products together

If an item is inelastic...

If I own my own business and decide to give all of my employees a raise...

The curve for supply shifts to the ___ when there's a decrease

If there is an increase in demand, the curve will shift to the ___

If the government decides to raise taxes on farmers...

If Starbucks cut their coffee prices in half, what would happen to demand for Coffee Bean?

Demand is from who's perspective?

The supply curve slopes...

A fad, something that's in, many people want it

As consumers, we would rather buy more at ____ prices

When the government imposes high ____, supply will ____

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