Factor of supply where more firms sell the same product in a market.

change in the number of sellers

Factor of supply involving changes in factors of production

change in price/availability of inputs

Factor of demand involving things that are commonly sold together.

change in price/availability of complementary goods/services

Factor of demand where one good or service may be used instead of another.

change in price/availability of substitute goods/services

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Supply and Demand

15 termsStudBud Administration751 plays

Intro to supply and demand

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Questions 15

Answers

1
The Law of Demand states that when price goes down...
demand goes up
supply goes up
supply goes down
demand goes down
2
The Law of Supply states that when price goes up...
supply goes down
demand goes up
demand goes down
supply goes up
3
An increase in the number of buyers does what to the supply and demand model?
moves demand curve right
moves demand curve left
moves supply curve right
moves supply curve left
4
A decrease in income does what to the supply and demand model?
moves supply curve left
moves supply curve right
moves demand curve left
moves demand curve right
5
Factor of supply where more firms sell the same product in a market.
change in income
change in the number of sellers
change in number of buyers
change in price/availability of complementary goods/services
6
Factor of supply involving changes in growth of the economy
change in price/availability of complementary goods/services
change in price/availability of sbstitute goods/services
change in productivity
change in inputs
7
Factor of supply involving changes in factors of production
change in price/availability of complementary goods/services
change in productivity
change in price/availability of inputs
change in price/availability of complementary goods/services
8
What is this?
quantity curve
price curve
demand curve
supply curve
9
Factor of demand involving things that are commonly sold together.
change in price/availability of substitute goods/services
change in income
change in number of sellers
change in price/availability of complementary goods/services
10
Factor of demand where one good or service may be used instead of another.
change in price/availability of substitute goods/services
change in income
change in productivity
change in price/availability of complementary goods/services
11
Quantities of goods and services that consumers are willing and able to buy.
equilibrium price
factor of production
demand
supply
12
Factor of demand where there are more customers are in the market.
increase in buyers
increase in price/availability of substitute goods/services
increase in the price of complementary items
increase in sellers
13
When Pepsi is cheaper than Coke what happens to the demand curve for Pepsi?
the supply curve moves to the right
it moves to the right
it does not move
it moves to the left
14
The amount of a product that is offered for sale.
complementary goods
risk
demand
supply
15
What is this?
quantity curve
demand curve
price curve
supply curve

Supply and Demand Flashcards | StudBud