Economics Chapter 4 Quizarama part 2

What happens to the quantity supplied when the price falls?

When a quantity supplied of a good is less than the quantity demanded at a given price

When the price of a good falls, but the demand remains steady, the quantity demanded will

A regulated limit under which producers cannot legally set prices

Technological advances tend to make price of producing goods

What happens to the equilibrium price when supply increases?

What happens to quantity demanded when price increases?

What happens to the equilibrium price when demand increases?

The relationship between a good's price and the amount that producers are willing to produce

If the quantity that is demanded and the quantity supplied are equal

In most cases, if price goes up, people will buy less, therefore the demand is

If demand for wheat rises while supply remains constant, the price of wheat would

When governments give businesses money to encourage production

A regulated limit on how much a producer may charge for his product

What happens to the equilibrium price when demand falls?

A list of numbers that compares price with quantity supplied

What happens to the quantity supplied when the price increases?

What happens to the equilibrium price when supply falls?

What happens to the quantity demanded when the price falls?

When a quantity supplied of a good is greater than the quantity demanded at a given price

If cattle prices rise, the cost of dog food may rise as well