Supply and Demand

The amount of goods available:

• Supply
• Demand
• Utility
• Equilibrium

The tendency of suppliers to offer more of a good at a higher price:

• Law of Supply
• Law of Demand
• Law of Economics
• Law of Net Income

This is a chart that lists how much of a good a supplier will offer at different prices:

• Demand Schedule
• Supply Schedule
• Economics Schedule
• Profit Schedule

A supply curve slopes:

• Upward
• Downward
• Vertical
• Not at All

The only thing that causes movement along a supply or demand curve:

• Price
• Quantity
• Climate
• Weather

Consumers buy more of something when it costs less:

• Law of supply
• Law of demand
• Law of purchase
• Law of trade

Consumers buy a different good when the price of something gets too high:

• Substitution effect
• Income effect
• Weather effect
• Demand effect

A demand curve slopes

• Downward
• Upward
• Vertical
• Horizontal

Goods that people buy more of when income increases:

• Normal goods
• Inferior goods
• Expensive goods
• Inexpensive goods

An increase in income shifts the demand curve to the:

• Right
• Left
• Top
• Bottom