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Intro to Supply and Demand Curves Retention Ticket Flashcards | StudBud

Explore/Intro to Supply and Demand Curves Retention Ticket

What is the law of demand?

What variables are on the y and x axis for a supply and demand graph?

Intro to Supply and Demand Curves Retention Ticket

5 terms·StudBud Administration·720 plays

An Econ 101 introduction to supply and demand curves

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Questions 5

Answers

1
What variables are on the y and x axis for a supply and demand graph?
Price is on the y axis, Quantity on the x axis
Supply is on the x axis, demand is on the y axis
Supply is on the y axis, demand is on the x axis
Quantity is on the y axis, Price is on the y axis
2
What is the law of demand?
As prices increase, quantity demanded increases
As prices increase, quantity demanded decreases
As prices increases, supply decreases
As prices increase, supply increases
3
Which line is the supply curve?
The blue line
horizontal line
vertical line
The red line
4
Which line is the demand curve?
The blue line
The vertical line
The horizontal line
The red line
5
What is the law of supply?
As prices increase, quantity supplied increases
As prices increase, demand increases
As prices increase, demand decreases
As prices increases, quantity supplied decreases