unit 5- supply and demand Flashcards
1
Q
a shortage in supply leads to
A
an increase in price
2
Q
an increase in demand typically leads to
A
an increase in price
3
Q
a surplus in supply leads to
A
a decrease in price
4
Q
a decrease in demand typically leads to
A
a decrease in price
5
Q
a surplus is typically caused by
A
a shortage in demand, or an increase in sellers
6
Q
a shortage is typically caused by
A
an increase of demand, or a decrease in sellers
7
Q
when demand perfectly addresses supply
A
market equilibrium
