Econ Supply and Demand quiz

How are these products interrelated?

What do we find on the x-axis?

Which demand shift factor: Your yearly raise came through and it is 4% above cost of living changes.

If my product is donuts and donuts go up in price...

What do we find on the y-axis?

Which demand shift factor: The price of hand sanitizer goes up so what happens to the market for hand soap?

If you got a raise what might happen to your demand curve for a couch at a second hand store?

What do we label the downward sloping curve?

During the Industrial Revolution we saw the change in supply due to

Two cases that show a price is not in equilibrium and signal a need for change are:

What do we label on the intersection of the two curves?

What is the opposite of an equilibrium?

If you add up all the demand curves of individuals you get...

If you are at equilibrium you have no reason to ____________.

When you consider ethanol, corn syrup, soft drinks and unsweetened tea, you are pondering ...

Which direction would your demand curve shift if people were persuaded not to buy things made of genuine ivory?

Which shift factor? If the price of sport cars goes up (luxury tax) what might happen to the market for specialty tires?

Demand is by individuals but is aggregate. So, we choose to buy/not, but we cannot determine if the product is sold.