Supply and demand
Presentation
•
Social Studies
•
7th - 10th Grade
•
Practice Problem
•
Hard
ME S
Used 33+ times
FREE Resource
6 Slides • 7 Questions
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Supply and demand
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Law of demand
Inverse relationship between price and quantity
As price increases, quantity demanded decreases
As price decreases, quantity demanded increases
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Multiple Select
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Multiple Choice
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Law of supply
Positive/direct relationship between price and quantity supplied
As price increases, suppliers are willing to supply more of that good (and vice versa)
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Multiple Select
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Multiple Choice
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Multiple Choice
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Movements along curves
Movements are caused by changes in price
A movement resulting in an increase in quantity demanded/supplied is an EXPANSION
A movement resulting in a decrease in quantity demanded/supplied is an CONTRACTION
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Multiple Select
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Multiple Choice
Supply and demand
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