01.06 Soap Opera of Supply and Demand Quiz – Flashcards
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The intersection of P1 and Q1
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Creative Commons The price (P) of designer jeans is affected by the supply (S) and the demand (D). Which of these represents an equilibrium price for designer jeans?
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Increased demand and no change in supply
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Creative Commons The price (P) of designer jeans is affected by the supply (S) and the demand (D). Which of these can cause an increase in the price of designer jeans?
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Demand for more pairs of jeans results in an increase in both price and quantity supplied.
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Creative Commons The price (P) of designer jeans is affected by the supply (S) and the demand (D). What does this graph show?
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supply
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The products available for purchase are the
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When demand equals supply
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When is equilibrium reached?
