Supply and Demand

Random Miscellaneous or definition Quiz

Can you name the Supply and Demand Basics?

Quiz not verified by Sporcle

 plays        
How to Play
Score 0/20 Timer 07:00
DefinitionEconomic Term
This type of supply and demand is usually a time period of a year or more
This type of supply and demand is typically thirty days or less
When not enough of a good is available
A person who buys goods and services
This man further developed and popuralized the supply and demand model in 1890
Represented by the letter 'Q' on a supply and demand chart
When too much of a good is available
How much the market can offer
'The higher the price, the lower the quantity demanded'
One of the earlier writings on how both supply and demand interacted to determine price
DefinitionEconomic Term
As demand for one product rises, this also rises
How supply and demand respond to various factors
Anything that anyone wants
Represented by the letter 'P' on a supply and demand chart
The value of a this will change as the levels of supply rise and fall
The result from the actual demand for a given product being lower than the projected, or estimated, demand for that product
The network in which buyers and sellers interact to exchange goods and services for money
Under the assumption of perfect competition, supply is determined by
Desired quantity of a good
When supply and demand are equal

Friend Scores


  Player Best Score Plays Last Played
You You haven't played this game yet.

You Might Also Like...

Extras

Created May 21, 2010ReportNominate
Tags:definition, basic, economic, supply, term