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Supply and Demand Flashcards | StudBud

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Supply and Demand

7 terms·StudBud Administration·221 plays

Agriculture Business Quiz: Supply and Demand

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Questions 7

Answers

1
Supply is...
The amount of a good available for purchase
The desire to purchase as well as the ability to do so
2
What is a factor of supply
Income
Complementary Goods
Taste & Preference
The cost of the inputs
3
Demand is..
the amount of a good that is available for purchase.
the desire to purchase as well as the ability to do so
4
When prices increase
Demand stays the same
Demand decreases
Demand increases
5
What is one factor of demand
Income
Amount of good supplied
Amount of producers
The cost of inputs
6
Price Equilibrium is...
where supply and demand meet
the quantity demanded of a good or service
7
When the price decreases
Demand stays the same
Demand decreases
Demand increase