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Supply and Demand
5 pages

Supply and Demand

This curve demonstrates what idea: As price increases, quantity supplied goes up. A point ON the curve could change if....: Price changes. If the price of a good goes up, what will happen to quantity supplied: It will increase. What will happen to quantity demanded if the price goes down? : It will increase. What could cause the shift from D1 to D2: A change in preferences. This graph represents...: Changes in demand. Which is a determinant or shifter of supply? : All of the above. There is a record peach harvest, and prices are lowest in decades, what will happen to the supply curve for peach pies? : The supply curve will shift to the right. Congress passes a new "Sugar Tax", how will this impact the supply curve for sugar? : The supply curve will shift to the left. Prices of blueberries rise dramatically, how will this impact the demand curve for strawberries: The demand curve will shift to the right . Experts say that in five years, video games will cost 200% more than they do now, how will this affect the demand curve for video games now? : The demand curve will shift to the right . Research suggests that consuming sugar can cause health problems. What happens to the demand for Gummy Bears? : The demand curve will shift to the left. The point in the middle of the two curves represents or shows....: Market Equilibrium. ________ occurs when quanity demanded is higher than quantity supplied. : Shortage. ________ occurs when quanity supplied is higher than quantity demanded. : Surplus

Grade:Grade 11_AI - College_AI
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