Demand Supply Word Demand Supply Law of Demand
![Demand Supply Word -Demand -Supply -Law of Demand -Law of Supply -Utility -Demand Elasticity Demand Supply Word -Demand -Supply -Law of Demand -Law of Supply -Utility -Demand Elasticity](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-1.jpg)
![Demand When a person buys a good or service Cannot be measured until the Demand When a person buys a good or service Cannot be measured until the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-2.jpg)
![Supply The amount of goods and services a business is willing to produce Supply The amount of goods and services a business is willing to produce](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-3.jpg)
![Law of Demand People will buy more of a product at a lower price Law of Demand People will buy more of a product at a lower price](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-4.jpg)
![Law of Supply The more people are willing to pay the more products a Law of Supply The more people are willing to pay the more products a](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-5.jpg)
![Utility The use a person has for a product The more use a person Utility The use a person has for a product The more use a person](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-6.jpg)
![Demand Elasticity How does a person’s demand change when the price changes? If the Demand Elasticity How does a person’s demand change when the price changes? If the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-7.jpg)
![Surplus When a business has products left over Supply is greater than demand Surplus When a business has products left over Supply is greater than demand](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-8.jpg)
![Shortage When a business does not have enough products for all the people who Shortage When a business does not have enough products for all the people who](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-9.jpg)
![Equilibrium Price The price where the quantity supplied and the quantity demanded are equal Equilibrium Price The price where the quantity supplied and the quantity demanded are equal](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-10.jpg)
![Substitute A product that can be used in place of another product The price Substitute A product that can be used in place of another product The price](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-11.jpg)
![Complement Two products that you use together If the price of one changes the Complement Two products that you use together If the price of one changes the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-12.jpg)
- Slides: 12
![Demand Supply Word Demand Supply Law of Demand Law of Supply Utility Demand Elasticity Demand Supply Word -Demand -Supply -Law of Demand -Law of Supply -Utility -Demand Elasticity](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-1.jpg)
Demand Supply Word -Demand -Supply -Law of Demand -Law of Supply -Utility -Demand Elasticity -Surplus -Shortage -Equilibrium Price -Substitute -Complement Student Description Teacher Description Connections, Questions, etc.
![Demand When a person buys a good or service Cannot be measured until the Demand When a person buys a good or service Cannot be measured until the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-2.jpg)
Demand When a person buys a good or service Cannot be measured until the product is bought
![Supply The amount of goods and services a business is willing to produce Supply The amount of goods and services a business is willing to produce](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-3.jpg)
Supply The amount of goods and services a business is willing to produce
![Law of Demand People will buy more of a product at a lower price Law of Demand People will buy more of a product at a lower price](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-4.jpg)
Law of Demand People will buy more of a product at a lower price and will buy less at a higher price
![Law of Supply The more people are willing to pay the more products a Law of Supply The more people are willing to pay the more products a](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-5.jpg)
Law of Supply The more people are willing to pay the more products a business will produce The less people will pay the less a business will produce
![Utility The use a person has for a product The more use a person Utility The use a person has for a product The more use a person](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-6.jpg)
Utility The use a person has for a product The more use a person has for a product the more likely they are to buy more of that product
![Demand Elasticity How does a persons demand change when the price changes If the Demand Elasticity How does a person’s demand change when the price changes? If the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-7.jpg)
Demand Elasticity How does a person’s demand change when the price changes? If the price changes what happens to a person’s demand?
![Surplus When a business has products left over Supply is greater than demand Surplus When a business has products left over Supply is greater than demand](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-8.jpg)
Surplus When a business has products left over Supply is greater than demand
![Shortage When a business does not have enough products for all the people who Shortage When a business does not have enough products for all the people who](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-9.jpg)
Shortage When a business does not have enough products for all the people who want to buy it Supply is less than demand
![Equilibrium Price The price where the quantity supplied and the quantity demanded are equal Equilibrium Price The price where the quantity supplied and the quantity demanded are equal](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-10.jpg)
Equilibrium Price The price where the quantity supplied and the quantity demanded are equal Shortcut – where the supply and demand curves cross each other
![Substitute A product that can be used in place of another product The price Substitute A product that can be used in place of another product The price](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-11.jpg)
Substitute A product that can be used in place of another product The price of one product impacts the demand for the other product Ex) margarine for butter
![Complement Two products that you use together If the price of one changes the Complement Two products that you use together If the price of one changes the](https://slidetodoc.com/presentation_image_h2/2ae8c50e678db31203ff0bd429fd7ea1/image-12.jpg)
Complement Two products that you use together If the price of one changes the demand for the other could also change The price of one product impacts the demand for the other product Batteries and flashlights
Matching supply with demand
Module 5 supply and demand introduction and demand
Chapter 5 section 1 supply
Explain the law of demand and supply graphically
Newton's first law and second law and third law
Si unit of newton's first law
V=k/p
Avogadro's law constant
Elastisidad ng supply
Unit 2 demand supply and consumer choice
Shifters of supply
Unit 2 demand supply and consumer choice
Money market equilibrium