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Supply And Demand Flashcards | StudBud

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What does this represent?

what's the definition of supply?

Supply And Demand

5 terms·StudBud Administration·16 plays

#economics

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Questions 5

Answers

1
what's the definition of supply?
Refers to the behavior of the producers of goods/services
Quantity demanded is greater than quantity supplied
Tells the relationship between a consumer and a good
Quantity supplied is greater than quantity supplied
2
What does this represent?
supply curve
equilibrium
shortage
demand curve
3
What is demand?
Tells the relationship between a consumer and a good
Number of producers in the market
Tells the relationship between a producer and a good
Price of goods used in production
4
What is surplus?
quality of supply is greater than quality of demand
quantity of demand is greater than quantity supplied
The rise of prices
quantity of supply is greater than quantity of demand
5
What is this?
shortage
supply curve
surplus
equilibrium graph