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DEMAND & SUPPLY ONQ

DEMAND & SUPPLY ONQ. 10 QUESTIONS DID THE Jo’s GET THEIR NOTES???. DEFINE MICROECONOMICS . THIS IS A GRAPH SHOWING QUANTITY DEMANDED AT EACH PRICE IN THE MARKET. WHEN PRICE GOES DOWN , QUANTITY DEMANDED GOES UP. THIS ILLUSTRATES:

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DEMAND & SUPPLY ONQ

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  1. DEMAND & SUPPLY ONQ • 10 QUESTIONS • DID THE Jo’s GET THEIR NOTES???

  2. DEFINE MICROECONOMICS. • THIS IS A GRAPH SHOWING QUANTITY DEMANDED AT EACH PRICE IN THE MARKET. • WHEN PRICE GOES DOWN, QUANTITY DEMANDED GOES UP. THIS ILLUSTRATES: • A MARKET DEMAND CURVE SHOWS THE QUANTITY DEMANDED OF ___________. • A CURVE CAN ONLY SHIFT IN WHICH DIRECTIONS?

  3. 6. ELASTICITY MEANS…... 7. IF THE PRICE OF A GOOD RISES AND YOU STILL BUY IT WHAT KIND OF DEMAND DO YOU HAVE? 8. DEFINE TOTAL REVENUE. 9. HOW DOES SHORT RUN EFFECT SUPPLY? 10. A demand curve is accurate only as long as the _____ _____assumption is true.

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