chapter 9- price changes

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Last updated 7:09 AM on 8/28/26
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8 Terms

1
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what is a price change

an increase or decrease in price of a good/service

2
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what can cause a price to rise

quantity demanded increases or a decrease in supply

3
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what can cause a price to fall

quantity demanded decreases or an increase in supply

4
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what happens when demand increase

there is an upward pressure on price

5
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what happens when demand decreases

there is a downward pressure on price

6
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what happens when supply increases

there is a downward pressure on price

7
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what happens when supply decreases

there is an upward pressure on price

8
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why might prices change in a market

because of a change in demand, supply or both