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4 cards from this section. Quick, good the night before a test.
Define Demand in your own words.
Think about what influences someone's ability to buy something.
What happens to demand when prices increase?
Remember the Law of Demand.
What is the Law of Demand?
Think about how sales affect consumer behavior.
True or False: Supply increases when prices decrease.
Remember the behavior of sellers as prices change.
Discuss how an increase in consumer preferences for electric cars can affect the demand and supply curve for the electric vehicle market.
Think about how preferences shift consumer behavior.
Consider a government subsidy for renewable energy. Analyze its impact on the supply curve for solar panels.
Consider how subsidies change the cost structure for producers.
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