Supply, Demand, and Price Control (Exam 1)
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Last updated 9:32 PM on 5/27/26
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8 Terms
1
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Price floors
When governments decide market prices are too low and must be increased, they impose…
2
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Left
Where does the supply curve shift if supply decreases
3
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Right
Where does the supply curve shift if the supply increases
4
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Right
Which direction does the supply curve shift when technology empowers
5
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Left
Which way doe the supply curve move when expected price of a good increases
6
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Right
Which way does the supply curve move when the expected price of a good decreases
7
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Equilibrium
The point at which supply and demand curves intersect
8
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Price Ceiling
Governments impose this when they feel the prices are too expensive