lecture 2 Econ
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Last updated 6:53 PM on 12/10/24
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5 Terms
1
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market
set of arraignments where buyers and sellers interact to exchange goods and services. g + s
2
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when does supply fall to zero
when the selling price is too low for firms, selling price increases, quality supplied increases
3
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price is too high
excess supply forces prices up, QD rises and QS falls
4
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price is too low
excess demand forces price up, QD falls and QS riseshatw
5
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what causes movements in the demand curve
change in the price of good
Note 
Flashcards (40)