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Supply and Demand

Mr. Swain

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6.If one brand of cereal or energy drink goes way up in price you'll get a competitiors brand to save money. This is __________ demand.
7.Time studying instead of working at an $8.00 job is _____________ cost.
10.The amount of economic systems.
11.If gas goes up in price and people buy the same amount from one day to the next it is called ___________ demand.
14.The point where the demand and supply curve meet.
16.You need land, labor, goods, and entrepreneurship for this "P" word to happen.
17.A type of market example: A JC Penny Catalog.
1.If a music DVD goesm from P-one (price one) to P-______, it makes singers rich.
2.All the activity in a nation that together affects the production of goods and services.
3.The demand curve goes_____________if demand goes up for a Beyonce CD.
4.Person who organizes, and assumes the risk of a business.
5.A type of market example: Buying off ebay.
8.The amount of a good or service that consumers are willing to buy at certain prices.
9.A type of economy where things are done "the way they always have been done."
12.The amount of a good or service that producers are willing to to sell at a certain price.
13.Buying a DVD player rather than going to Cedar Point or visiting relatives.
15.If Muskegon Heights wins only three games in basketball this year, the demand curve will go__________.

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