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5 Written questions

5 Matching questions

  1. a----demand curve is a graph that lists prices on the vertical axis and quantities on the horizontal axis
  2. what is the term for the principle that suppliers will normally offer more for sale at higher prices and less at lower prices
  3. in a product has----demand, price changes have little effect on the quantity demanded
  4. ----refers to the desire, willingness,and ability to buy a good or service
  5. a----is a government minimum price that can be charged for goods and services
  1. a demand curve
  2. b price floor
  3. c inelastic
  4. d demand
  5. e law of supply

5 Multiple choice questions

  1. substitutions
  2. supply curve
  3. shortage
  4. price
  5. compliments

5 True/False questions

  1. a----is a table showing quantities supplied at different possible pricessupply curve


  2. which term refers to the government-set maximum price that can be charged for goods and servicesprice floor


  3. term that describes the table that lists the quantities of a product or service over a range of possible pricessupply


  4. which term describes the combination of supply schedules for all businesses that provide the same good or servicesupply


  5. ----and demand work together to set pricesexpensive