Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

8th SS JORGE-ECONOMY

Jorge 8th SS Chp 3 supply and demand

QuestionAnswer
SUPPLY THE AMOUNT OF A PRODUCT THAT PRODUCERS ARE WILLING AND ABLE TO OFFER AT DIFFERENT PRICES.
DEMAND THE AMOUNT OF A PRODUCT OR SERVICE THAT BUYES ARE WILLING AND ABLE TO BUY AT DIFFERENT PRICES.
MARKET PRICE THE PRICES AT WHICH BUYERS AND SELLERS AGREE TO TRADE.
SURPLUS AN EXTRA AMOUNT OF SOMETHING.
SHORTAGE WHEN THERE IS NOT ENOUGH OF SOMETHING.
WHEN PRICES ARE HIGH SUPPLIERS ARE WILLING TO SUPPLY MORE OF A PRODUCT. THEREFORE THE SUPPLY CURVE LPPKS THE WAY IT DOES BECAUSE AS PRICES GO UP YHE QUANTITY SUPPLY GOES UP.
WHEN PRICES ARE LOW BUYERS WILL DEMAND MORE OF A PRODUCT. THEREFORE THE DEMAND CURVE LOOKS THE WAY IT DOES BECAUSE AS PRICES GO DOWN THE QUANTITY DEMAND WILL GO UP.
QUALITY SUPPLIES EQUALS THE QUANTITY DEMAND IS CALLED THE MARKET PRICE.
AT ANY PRICE ABOVE THE MARKET PRICE THERE WILL BE A SURPLUS BECAUSE THE QUANTITY SUPPLIED GREATER THAN THE QUANTITY SUPPLIES.
AT ANY PRICE BELOW THE MARKET PRICE THERE WILL BE A SHORTAGE BECAUSE THE QUANTITY DEMAND IS GREATER THAN THE QUANTITY SUPPLIES.
Created by: asimien907
Popular Social Studies sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards