module 5 and 6 chart
0.0(0)
Studied by 2 people0%Exam Mastery
Build your Mastery score
AP PracticeSupplemental Materials
Call Kai
Call KaiCard Sorting
1/12
Earn XP
Description and Tags
Last updated 2:02 AM on 10/30/22
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai | Chat |
|---|
No analytics yet
Send a link to your students to track their progress
13 Terms
1
New cards
input (supply)
when price of input decreases supply of good increases
2
New cards
substitute (supply)
when price of substitute decreases the supply of original increases
3
New cards
complement (supply)
when price of complement rises, the supply of original increases
4
New cards
technology (supply)
when technology improves, supply of the good increases
5
New cards
expected (supply)
when price is expected to fall, supply increases today
6
New cards
number of producers (supply)
when number of producers rises, market supply of the good increases
7
New cards
Substitute (demand)
when a rise in the price of one good leads to an increase in the demand for the other good
8
New cards
complement (demand)
when a rise in the price of one good leads to a decrease in the demand for the other good
9
New cards
normal good (demand)
when a rise in income increases the demand for a good
10
New cards
inferior good (demand)
when a rise in income decreases the demand
11
New cards
taste (demand)
when tastes change in favor of good, the demand increases
12
New cards
expected price (demand)
when prices is expected to rise in the future, the demand increases today
13
New cards
number of consumers (demand)
when number of consumers rises the demand increases