Supply and Demand Review

This part of the market determines DEMAND

• buyers
• sellers
• suppliers
• store owners

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

For the law of demand, as price rises, what happens to quantity demanded?

• it goes up
• it goes down
• it stays the same
• it is not effected

For the law of supply, as price rises, what happens to quantity supplied?

• it goes up
• it goes down
• it stays the same
• it is not effected

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

The diagram represents a

• increase in demand
• decrease in demand
• change in quantity demand
• none of the above

The diagram represents a(n)

• increase in supply
• decrease in supply
• change in quantity supplied
• none of the above

A change in the number of consumers.

• Shift in Supply

• Shift in Demand

A change in the cost of inputs.

• Shift in Supply

• Shift in Demand