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Supply and Demand Flashcards | StudBud

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Supply and Demand

10 terms·StudBud Administration·62 plays

#Supply #Economics #Demand

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Questions 10

Answers

1
A Supply Schedule is a tabular depiction of the:
relationship between price and quantity demanded
relationship between price and quantity supplied
relationship between the demand and supply
relationship between the PPC and Price
2
Ceteris Parabus refers to:
all other things being selfless and transparent
all other things being chaos or irregular
all other things being equal or constant
all other things being economic
3
This diagram demonstrates a:
movement along demand curve
shift in demand
movement along supply curve
shift in supply
4
The Diagram demonstrates what:
movement along demand curve
movement along supply curve
shift in demand
shift in supply
5
Find the item that is not a Non-Price Determinants of Supply
Change in Input Prices
Law of Demand
Expectations of Suppliers
Government Intervention
6
Willingness and Ability for a consumer to purchase a good or service at a given price and time:
is the definition of demand
is the definition of a supply curve
is the definition of a demand schedule
is the definition of the law of demand
7
Refer to the image for the definition and match to the below term
Law of Supply
Supply
Supply Curve
Quantity Supplied
8
Law of Supply
when price rises, quantity supplied falls
when price falls, quantity supplied rises
when price rises, quantity supplied rises
when price falls, quantity supplied falls
9
Law of Demand
when price rises, quantity demanded falls
when prices fall, quantity demanded falls
when prices falls, quantity demanded rises
when price rises, quantity demanded rises
10
This diagram illustrates a:
movement along supply curve
movement along demand curve
shift in demand
shift in supply