Supply and Demand

What happens when the price is below the Equilibrium Price?

When the price is high and demand falls what happens to goods produced?

How much of a good or service a producer is willing and able to produce at different prices.

If products are scarce and demand remains constant what happens to price?

An individual’s need or desire fora good or service at a given price.

What happens whenthe price is abovethe equilibrium price?

Why do people enter the market place?

Thepoint at which the supply and demand curve meet is called.