Economics - Supply and Demand
Go to the following website, and begin at the slide entitled "Supply curve"
Supply and Demand
1 What does a supply curve show, and why is it called a positive relationship ? Give an example other than those on the website
2 What does a demand curve show and why is this called a negative relationship ? Give an example other than those on the website
3 Define market equilibrium
Draw an example supply and demand graph to show the equilibrium point
4 Describe the situations where diseqilibrium may occur
5 How do free markets eliminate excess supply and demand ?
6 Explain how the government regulates markets so that the most people can have what they desire
7 How does the government protect producers ?