4 & 5 Demand and Supply

What does this curve represent?

• Supply

• Demand

• Equillibrium

• Quantity

What does this curve represent?

• Demand

• Supply

• Equilibrium

• Shortage

If the price of printers goes down, what happens in the market for ink cartridges?

• Supply increases.
• Supply decreases.
• Demand increases.
• Demand decreases

The following is a factor that will not cause the demand curve to shift:

• Advertising
• Population
• Price
• Consumer expectations

A change in quantity demanded is shown...

• at various points on the demand curve

• with a new demand curve drawn above or below the original demand curve

• with a vertical line

what is the name of the table that lists the quantity of a good that a single person will buy at each price in a market?

• demand schedule

• market map

• elasticity chart

• supply and demand graph

In economics, the term demand refers to the quantity of a good that people ...

• will buy at one particular price over a long time period

• would like to consume on a given date

• will buy at many different prices at a particular time

• would like to have available during a given time period

A shortage of a good is often a signal for a producer to 

• lower production of that good.
• lower the prices of that good.
• raise the prices of that good.
• shift production to another good.

When the price of a good or service is high consumer demand will usually be ...

• High

• Unpredictable

• Low

• Average

The quantity of a good or service that producers are able and willing to offer for sale at a specified price in a given period of time is...

• Supply

• Quantity sold

• Demand

• Quantity demanded