Supply & Demand
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Market | Includes the customers and locations that business wants to serve.
🗑
|
||||
| Supply | How much of a good or service a producer is willing and able to produce at different prices.
🗑
|
||||
| Demand | An individual's need or desire for a good or service at a given price.
🗑
|
||||
| Law of Demand | As prices fall for a particular good or service, the demand for that item will increase and vice-versa.
🗑
|
||||
| Law of Supply | As prices of a particular good or service increases, the supply for that item will also be increased and vice-versa.
🗑
|
||||
| Price | The amount at which a good or service will be sold in a market.
🗑
|
||||
| Profit Motive | The hope of making a profit
🗑
|
||||
| Supply and Demand Graph | A visual representation of supply and demand.
🗑
|
||||
| Equilibrium or Market Price | The point at which the supply and demand curves meet.
🗑
|
||||
| Competition | A contest for some prize, honor, or advantage.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
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.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
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.
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
Normal Size Small Size show me how
Created by:
scdroten
Popular Economics sets