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11 Cards in this Set
- Front
- Back
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Movement along
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The only way this can occur is if the change in price causes a change in the quantity demanded.
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Shifts
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If something changes that was held constants to draw demand curve causes entire curve shift.
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Right
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In regards to demand, if it increases, it shifts to..
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Left
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In regards to demand, if it decreases, it shifts to...
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Movement along problem
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If the price of a computer decreases and the quanity demanded increase, this is an example of...
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True
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True or false - quantity supply may or may not equal amount actually sold.
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Price, price of production inputs, technology, number of suppliers.
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Variables that affect quantity supplied of good x
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Law of supply
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cet. p, there's a positive relationship between price and quantity supplied of good x
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Negative relationship; cut production
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If there is an increase in the price of a production input, what relationship is this and what may be an effective means to salvage expenses.
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Technology
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Generally mean an increase in the quantity supplied of good x
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Positive Relationship
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What is the relationship between the quantity supplied of good x and number of suppliers.
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