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Supply and Demand

What is Supply?
Is the quantity of goods or services that producers are willing to offer various prices in a given time
What you give offer a customer
What a customer offers you
The opposite of demand
True or False? The law of Supply states? States that producers supply more goods and services when they sell them at a higher price and fewer goods and services they must sell at a lower price
True
False
What way dose a Supply Curve curve.
Up nd right
Down and right
No Curve
Straight Up
Explain what profit is.
What does the Law of Demand State?
Describe one of the 3 types of economies.
What does the Law of Demand state?
Authoritarian Socialism is 80% government 20% control for the people?
True
False
Explain why competition can be good.
How can competition be bad for the economy?
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