Basic Econ (Markets - Elasticity)

Place where the buyers and sellers meet.

• Store

• Market

• Grocery

• Market Equilibrium

Buyers/Demanders and Sellers/Suppliers are known as the two ______ in the market.

Shows various amount of goods and services that consumers are willing and able to buy at a specific period of time given a series of price.

• Quantity Demanded

• Demand

• Supply

• Quantity Supplied

Demand and Supply can be represented into _____.

Specific Demand at a Specific Price

• Demand

• Demanded

• Quantity Demanded

Demand is a ________ sloping curve.

Supply is an ______ sloping curve.

Formula of Demand. Qd = ____