Supply and Demand

When the supply of a product or service goes up and the demand stays the same the Price will typically do what?

• Rise

• Stay the same

• Consumer Riot

• Fall

A person or company that makes, grows, or supplies goods to sell is called the?

• Consumer

• Producer

• Buyer

• Decider

The desire or willingness a consumer has to purchase a good or a service is called?

• Supply

• Shortage

• Price

• Demand

The amount of goods or services available is called?

• Supply

• Demand

• Consumerism

• Shortage

An individual or group who purchases goods.

• Supplier

• Producer

• Consumer

• Goods and Services

The point where supply and demand are balanced is?

• Surplus

• Shortage

• Equilibrium

• Demand

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

If a price is above equilibrium price on the supply and demand table, it creates a...

• shortage

• surplus

• market price

• demand

If a price is below the equilibrium price on the supply and demand table, it creates a...

• shortage

• surplus

• market price

• supply

What does this curve typically represent on the supply and demand table?

• demand

• supply

• equilibrium

• shortage