Supply and Demand

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Last updated 5:03 PM on 8/24/26
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5 Terms

1
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SUPPLY - What does RATNEST stand for?

  • Resource Cost [Inverse]

  • Alternative Price [Inverse]

  • Technological Improvement [Direct]

  • Number of Firms [Direct]

  • Expectations of Consumers [Inverse]

  • Subsidies [Direct]

  • Taxes [Inverse]


2
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DEMAND - What does TIMER stand for?

  • Taste

  • Income

  • Market Size

  • Expectations of Consumers

  • Related Goods


3
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The price of computer chips decreases. What happens to the demand curve for computers, and why?

4
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Technology is invented that allows cows to produce more milk. What happens to the supply curve of milk, and why?

The supply curve moves right; because cows can produce more milk, there is more milk in supply.

  • RATNEST


5
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The government subsidizes railways. What happens to the supply of railways, and why?

There is more supply for railways. Government funding allows more supply.

  • RATNEST