Supply and Demand Review Ch3&4

An upward slope on a graph describes a

A downward slope on a graph describes a

If new pollution controls are imposed on companies that make wrenches, the supply of wrenches

What does this curve show?

If the price of resources fall, supply will

 A business makes a profit when its revenues are greater than its

If prices of resources fall, supply will

If the price of corn falls, the supply of soybeans, a related good, will

If a product is not a necessity it will tend to have

The amount of a good or service a consumer is willing and able to buy at each particular price?

What are the determinants of demand?

The additional cost of producing one more unit of output

Workers’ wages are an example of

As the school year nears, the demand for school supplies in increases. Which way will it shift?

If a good can be made quickly; inexpensively; and using a few, readily available resources, it

Gold is an example of a good that has

When looking at a local market demand curve of surgar? Which does this situation show?

If competition in a video game market increases, the supply curve for video games will shift

What does this curve show?

If a new tax is levied on the producers of cars, the supply curve for cars will shift   

As the price increases on a good the population stops purchasing the good? This shows what?

What does this curve show?

What does this curve show?