Unit 10: Supply and Demand Review

What's the term for money that the government gives to suppliers of must-have goods/services?

Name the non-price determinant: competitors take away sales and increase supply

What is the law of supply?

What is the definition of supply?

What does QS stand for?

When QS is greater than QD, what exists in the market?

What is it called when QS = QD?

Does the graph show an increase or decrease in demand?

Name the non-price determinant: the amount producers are willing to supply is impacted by taxes

What is the term for what's pictured?

What's the term for what's in the picture?

Name the non-price determinant: more potential buyers cause an increase in demand

What is the definition of demand?

What does QD stand for?

What is the law of demand?

What's the term for what's in the picture?

What does P stand for?

What does the graph show?

Does this image show an increase or decrease in demand?

What causes shifts in the demand curve?

What is the term for a good/services that can be used instead of another good?

What is the term for what is in the picture?

Name the non-price determinant of supply: robots allow Ford to produce more cars

When QD is greater than QS, what exists in the market?

What is the type of relationship between price and quantity demanded?

Name the non-price determinant: what prices are expected to do in future impact spending today

What causes shifts in the supply curve?

Name the non-price determinant: hiring skilled workers increases supply

Name the non-price determinant: the more money people have, the more demand increases

What is the term for a good that "goes with" another good?

Name the non-price determinant: when something is popular, the demand goes up

A change in price causes....