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Review of Supply and Demand Flashcards | StudBud
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Review of Supply and Demand
Review of Supply and Demand
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StudBud Administration
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The basics of supply and demand.
Flashcards
10 cards
F
Practice quiz
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Host live
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Questions
10
Answers
1
What is the name of the point when supply and demand meet?
Angle
Mid-Circle
Mid-Point
Equilibrium Point
2
What happen to supply if prices decrease?
supply increase
supply decrease
3
The relationship between price and supply is called __________.
Mid-Point
Equilibrium Point
Law of Supply
Law of Demand
4
Do you understand everything?
No
Yes
5
Demand>Supply
shortage
surplus
6
If price goes down, what happens to demand?
it goes down
it goes up
7
If price goes up, what happens to demand?
it goes up
it goes down
8
Demand<Supply
shortage
surplus
9
The relationship between price and demand is called __________.
The Equilibrium Point
None of the Above
The Law of Supply
The Law of Demand
10
What happen to supply if prices increase?
supply decrease
supply increase
