Set: Reviewer: Demand, Supply and Market Equilibrium

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All 5 terms

TermDefinition
Supply ScheduleThe relationship between the quantity of goods supplied by the producers of a good and the current market price.
Supply CurveA curve showing the relationship between price and quantity that producers are willing to sell during a particular time period.
Shift of a Demand CurveIncreased demand can be represented on the graph as the curve being shifted right. if the demand decreases, the opposite happens: a lefward shift of the curve.
Quantity DemandedA term used in economics to describe the total amount of goods or services that are demanded at any given point in time.
Quantity SuppliedA term used in economics to describe the total amount of goods or services that are supplied at any given point in time.

Set Information

Terms 5
Creator keren
Created July 21, 2007
Group econ100
Subjects supply, demand
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Most Missed Words

  1. Supply Schedule The relationship between the quantity of goods supplied by the producers of a good and the current market price. - 8 misses
  2. Quantity Supplied A term used in economics to describe the total amount of goods or services that are supplied at any given point in time. - 8 misses
  3. Shift of a Demand Curve Increased demand can be represented on the graph as the curve being shifted right. if the demand decreases, the opposite happens: a lefward shift of the curve. - 8 misses
  4. Quantity Demanded A term used in economics to describe the total amount of goods or services that are demanded at any given point in time. - 6 misses
  5. Supply Curve A curve showing the relationship between price and quantity that producers are willing to sell during a particular time period. - 4 misses