This part of the market determines DEMAND: buyers, sellers, suppliers, store owners
Supply & Demand

Flashcard
•
Social Studies
•
12th Grade
•
Hard
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28 questions
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1.
FLASHCARD QUESTION
Front
Back
buyers
2.
FLASHCARD QUESTION
Front
This part of the market determines SUPPLY
Back
sellers
3.
FLASHCARD QUESTION
Front
For the law of demand, as price rises, what happens to quantity demanded?
Back
it goes down
4.
FLASHCARD QUESTION
Front
When quantity supplied and quantity demanded is equal
Back
equilibrium
5.
FLASHCARD QUESTION
Front
What does this curve represent? Options: supply, equilibrium, demand, surplus
Back
demand
6.
FLASHCARD QUESTION
Front
What causes the change in sales at the local grocery store when thousands of people leave a small town due to a factory closing down?
Back
Change in the number of buyers
7.
FLASHCARD QUESTION
Front
Goods that are bought and used together are
Back
complementary goods
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