Micro Supply, Demand Equilibrium

If the price of a good is too high, the market will experience 

Price has two functions. They are:

Consumer surplus + producer surplus = 

Complementary goods have an inverse relationship between 

When is this quiz ever going to end?

If price rises, supply rises expresses the

Related goods can be  

Economics is 

Watermelon sellers participate in

If the price of robot teachers goes up the demand for human substitute teachers

"As prices rises, demand falls" is 

If incomes rise then the demand for what type of good decreases?

Taxes and subsidies are 

Expectations of future prices and expectations of future incomes are examples of 

At this price, the amount purchased is exactly equal to the amount sold.

If the price of a good decreases, it would lead to a what on a diagram? 

Command economies are more likely to produce _____________ than free-market economies? 

I'm thinking of a number between 1 and 10, what is it?

You will 

If my income decreases I am likely to buy a

If price goes up then quantity supplied goes up expresses 

Allocative efficiency has to do with 

People who buy more normal goods are 

The problem of scarcity is 

The demand curve slopes upward because of