Open place or building where buyers and sellers meet

What affects "Supply"?

Govt. controls, construction costs, labor force

The law of demand states

As prices increase, demand falls

A demand schedule shows

A listing that shows the various quantities demanded

The law of supply states

As prices increase, supply increases

What is a supply schedule?

Listing of a particular product supplied

Where market demand is greater than market supply

A person who buys goods and uses services

Someone who makes goods or offers a service

What is market equilibrium?

Where market demand equals market supply

studbud

Supply/Demand

12 termsStudBud Administration12 plays

Imported from external platform

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
What is a market?
estimate of expected income for a given period
Open place or building where buyers and sellers meet
A person who buys goods and services
2
What affects "Supply"?
None of these
Air quality
Population, particular segments
Govt. controls, construction costs, labor force
3
What is a surplus
a way people farmed
not enough food to live
more than is needed
a way of living
4
The law of demand states
As prices increase, supply falls
As prices increase, supply increases
As prices increase, demand falls
As prices increase, demand increases
5
A demand schedule shows
The fluctuations in demand schedules that occur over year
And upward sloping curve that illustrates price and .quanti
The fluctuations in demand that occurred over specific time
A listing that shows the various quantities demanded
6
What affects demand?
change in expectations
change in population
change in consumer tastes
all of the above
7
The law of supply states
As prices increase, supply increases
As prices increase, demand increases
As prices increase, demand falls
As prices increase, supply falls
8
What is a supply schedule?
The number of products desired by the consumer
A calender
Listing of a particular product supplied
Supply crash
9
What is a shortage?
Where market supply is greater than market demand
Where market demand equals market supply
Where market demand is greater than market supply
Where market demand is less than supply
10
What is a consumer?
A person who consumes food
A person who buys goods and uses services
A person who uses seeing eye dogs
A person who ships goods
11
What is a producer?
Someone who uses goods or services.
Someone who makes goods or offers a service
12
What is market equilibrium?
Where market demand equals market supply
Where market demand is greater than market supply
Where market demand is less than market supply
Where market supply is less than market demand

Supply/Demand Flashcards | StudBud