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Demand is
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
Which economic system does the US have?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
The three types of resources are
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
When you move down the supply curve, what happens to the price and the quantity supplied?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
Sarah wants to buy clearance Valentine's Day candy for her friend. She narrows it down between conversation hearts and a heart-shaped box of chocolates. She buys the chocolates. What is her opportunity cost?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
What happens to price and quantity demanded when there is downward movement along the demand curve?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
What is opportunity cost?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
When you move up the supply curve, what happens to the price and the quantity supplied?
Price decreases and the quantity supplied decreases.
the cost of the next best use of time or money when choosing to do one thing or another
Price decreases and quantity demanded increases.
the amount of a good/service that consumers are willing and able to buy
Price increases and the quantity supplied increases
mixed market
Natural resources, labor, capital
the conversation hearts
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