Economics, Unit 2: Supply and Demand

What happens at the point where the two curves meet?

The quantity demanded for Nike shoes has increased. The best explanation is that:

Demand is the ____ and ____ of consumers to purchase a good or service.

_____ exists when the quantity demanded = the quantity supplied.

The amount of something that consumers will buy at one particular price is called ______.

According to the law of demand: as price goes down, ______ goes up.

More families moving to a city would ________ demand for cars in that city.

If a new technology allowed us to produce computers cheaper, and make more profit, what would happen to supply?

Peanut butter and jelly, mustard and ketchup, and shoes and socks are considered:

If the price of tacos (substitute good) increases, the demand for pizza will ______.

Pepsi could be considered a ______ good for Coca-Cola.

Typically, when we consume more of a product, what happens to the enjoyment we get from that product?

What is not a determinant of demand?

When the price for bubble soda drops from $80 to $60, the quantity demanded goes from ____.

As the price for apples goes from .40 to .60 per pound, the quantity supplied goes from:

In the diagram, the equilibrium price and quantity is ____.

The branch of economics that deals with individual actors (small scale problems) is ____.

At the price of $1, what is the quantity demanded?