Demand and Supply definitions
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | the relationship between the various possible prices of a product and the quantities of that product consumers are willing to purchase
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| show | the amount of a product consumers are willing to purchase at each price
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| show | states that there is an inverse relationship
between a product’s quantity
demanded and its price
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| demand schedule | show 🗑
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| show | a graph that expresses possible combinations
of prices and quantities
demanded of a product
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| change in quantity demanded: | show 🗑
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| market demand | show 🗑
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| demand factors | show 🗑
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| show | an increase in the quantity demanded
of a product at all prices
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| show | a decrease in the quantity demanded of a product at all prices
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| show | products whose demand changes directly
with income
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| inferior products | show 🗑
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| show | products that can be consumed in place of one another
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| complementary products | show 🗑
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| show | the relationship between the various possible
prices of a product and the
quantities of the product that
businesses are willing to supply
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| show | the amount of a product businesses are
willing to supply at each price
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| market supply | show 🗑
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| show | a table that shows possible combinations of
prices and quantities supplied
of a product
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| show | a graph that expresses possible combinations
of prices and quantities supplied
of a product
🗑
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| change in quantity supplied | show 🗑
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| supply factors | show 🗑
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| show | an increase in the quantity supplied
of a product at all prices
🗑
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| decrease in supply | show 🗑
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| show | the stable point at which demand
and supply curves intersect
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| surplus | show 🗑
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| shortage | show 🗑
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Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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