Supply/Demand Word Scramble
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| Question | Answer |
| From which viewpoint is demand based? | Consumer |
| The supply curve slopes which way? | Upward |
| The demand curve slopes which way? | Downward |
| From which viewpoint is supply based? | Producer |
| The law of diminishing marginal utility states what? | The more you have of something the less satisfying it is |
| Factors that affect consumer spending are what? | law of diminishing marginal utility, income effect, substitution effect |
| Only a change in _______________ causes a change in quantity demanded. It moves along the same demand curve and does not shift. | price |
| The law of demand states what? | As price goes up, quantity demanded goes down. They have an inverse relationship |
| The point at which demand and supply meet is called what? | equilibrium |
| What is represented on the horizontal axis? | Quantity |
| What is represented on the vertical axis? | Price |
Created by:
lbeddow
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