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Supply and Demand: AP Macroeconomics Questions And Answers $12.49   Add to cart

Exam (elaborations)

Supply and Demand: AP Macroeconomics Questions And Answers

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  • Course
  • AP Macroeconomics
  • Institution
  • AP Macroeconomics

Supply and Demand: AP Macroeconomics Questions And Answers change in demand a shift of the demand curve, which changes the quantity demanded at any given price. movement along the demand curve change in the quantity demanded of a good that is the result of a change in that good's price. sub...

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  • October 13, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AP Macroeconomics
  • AP Macroeconomics
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Supply and Demand: AP Macroeconomics
Questions And Answers

change in demand a shift of the demand curve, which changes the quantity demanded at

any given price.




movement along the demand curve change in the quantity demanded of a good that is the

result of a change in that good's price.




substitues if a rise in the price of one of the goods lead go an increase in the demand for

the other good.




complements if a rise in the price of one goods leads to a decrease in the demand for the

other good.




normal good when s rise in income increases the demand for a good, it's a _____




inferior good when the rise in income decreases, it's a _____

, Supply and Demand: AP Macroeconomics
Questions And Answers
individual demand curve illustrates the relationship between quantity demanded and price

for an individual consumer.




quantity supplied actual amount of a good or service producers are willing to sell at some

specific price.




supply schedule shows how much of a good or service producers will supply at different

prices.




supply curve shows the relationship between quantity supplied and price.




law of supply the price of a good or service increases, all other factors being equal, the

quantity of goods or services offered by suppliers increases.




change in supply a shift of the supply curve, which changes the quantity supplied at any

given price.

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