Economics Supply/Demand Review

Demand curves show an inverse relationship between

When supply increases, equilibrium price

The minimum wage is the most famous example of (a)

Law of Supply says when prices rise

Government requires that manufactures install back-up cameras - supply shift left because

A good used in place of another good is a

Supply decreased causing the equilibrium price to

The various amounts consumers are willing and able to purchase at different prices.

When a business controls an entire market with no competition it is

For consumers the price of the iPhone 6 decreased, iPhone cases would see a 

Shortages occur when the price is

Oil production increased due to Hydraulic Fracturing - shift rise because

Law of Demand says when prices rise

When a demand curve shifts to show an increase in demand, the curve shifts

Where supply and demand meet and buyers and sellers are satisfied on market graph is

Amount of goods a business is willing and able to produce at various prices is a given time is

When demand increases, equilibrium price

What is a complement for an MacBook Air?

The government pays you to plant corn - supply shift right because

What is a substitute for a Babolat tennis racket?

When the supply curve shifts to show a decrease, the curve shifts

Supplier produces more of a product than consumers want to purchase, this is a