Supply and Demand Review

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

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

A change in the price of substitute goods.

• Shift in Supply

• Shift in Demand

A change in producer expectations.

• Shift in Supply

• Shift in Demand

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

A change in the price of complimentary goods.

• Shift in Supply

• Shift in Demand

An improvement in manufacturing technology.

• Shift in Supply

• Shift in Demand

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

A change in the number of producers.

• Shift in Supply

• Shift in Demand

A change in consumer expectations.

• Shift in Supply

• Shift in Demand