Demand, Supply, & Market Equilibrium

States there is a direct relationship between price and quanity supplied

says additional satisfaction from consuming one more unit decreases with each additional unit

According to the law of supply, higher prices cause producers to

States that after a point output increases won't keep pace with labor or machinery increases 

a set of prices and the quantity producers would supply at each price

Which item will NOT change the supply for a good or service?

Person who buys and uses products

Goods that are commonly purchased together are 

If the price of an item rises, quantity demanded usually

Which factor might have caused this market equilibrium shift?

In which direction do supply curves slope?

Surpluses cause prices to 

Which factor might have caused this market equilibrium change?

Which of the following will usually NOT cause people to demand more of a good or service?

Shortages cause prices to

Demand curves slope downward because of the ______ between price and quantity demanded.

An item purchased in place of another item