Supply & Demand

A change in which would cause the supply curve to shift?

What is the condition that exists when quantity supplied > quantity demanded?

A change in which of the following would cause the demand curve to shift?

What is a data table showing the quantity producers want to sell at each price point?

A good people tend to buy at higher income levels than lower

When the demand curve shifts, what does not change?

A change in which would cause a movement along the supply curve?

When one good or service can be used instead of another good or service

Ceteris paribus means...

The extent to which a change in price causes a change in quantity consumers want to buy

A change in which of the following would cause the supply curve to shift?

Kingsley gets a 10% raise. Inflation is 3%. What is Kingsley's real raise?

Which best describes when gov't give $ to the private sector (not a purchase or for a resource)

A change in what will shift the demand curve?

Which best describes when government takes resources from the private sector?

What is the condition that exists when quantity supplied = quantity demanded?

A change in which would cause the demand curve to shift?

If the price of inputs changes first, we use the following determinant on the outputs:

When demand/qty demanded of an output changes first, we use the following determinant on inputs

A change in which of the following will cause the demand curve to shift?

A change in which of the following could cause the supply curve to shift left or right?

A change in which would cause the supply curve to shift?

A change in what will cause the demand curve to shift?

Which best describes rules the government places on the private sector restricting operations?

When a number includes inflation (inflation has not been subtracted) we call it a ___ number.

What is the condition that exists when quantity demanded > quantity supplied?

A good or service whose use goes with the use of another good or service

The change in quantity demanded because of the relative change in the price of products

What is a data table showing the quantity consumers want to buy at every price point?

Which best describes a rule limiting how much of a good/service can be imported or exported?

When quantity supplied = quantity demanded, price...

The extent to which a change in price causes a change in the amount producers want to make

A good or service required in order to make a final good or service

A change in which of the following will cause the supply curve to shift?

What says that producers want to produce more at higher prices than lower prices?

What is the desire, ability, and willingness to buy a good or service at all prices?

When the supply curve shifts, what does not change?

What is the quantity of a good/service producers are willing to produce for sale at all prices?

When the government imposes an artificial limit on how high of a price can be charged; result?

Which of the 3 basic economic systems uses the pricing system?

A good or service that is the result of putting other resources and intermediate goods together

A good that people tend to buy more of at lower income levels than higher income levels

When quantity demanded > quantity supplied, prices...

What says that consumers want to buy more at lower prices than higher prices?

A change in which would cause a movement along the demand curve?

When a number has had inflation subtracted out, we call it a _____ number.

When the government places an artificial limit restricting how low producers may lower prices

What explains why people are richer when prices drop, leaving them with more real income?

A change in what will shift the supply curve?

What explains why people are poorer when prices rise, leaving them with less real income?

When quantity supplied > quantity demanded, prices...

Stephanie gets an 8% raise. Inflation is 1%. What is Stephanie's nominal raise?