The demand for the product is not affected by an increase in price is called...

As prices decreases, consumers will buy more of the good. This is called...

A ____________ demand schedule shows the demand for all consumers.

The line on a supply curve moves

Demand for gasoline is inelastic .

When the quantity demanded for a good is ___________, it means the demand for the product is affected by price changes.

Consumers will demand substitute goods due to...

Market demand schedules are more beneficial to producers than individual demand schedules.

The line on a _____________ curve usually moves upward and to the left.

Personal likes and dislikes affect the _____________ of a good or service.

Which of the following is known as the minimum price that the government establishes by law?

The government will establish a price ceiling in order to ensure consumers are able to purchase their needs.

When a market is in disequilibrium, the quantity demanded and the quantity supplied are equal.

When there is a shortage, _____________ is a method of distributing goods by using a other system than pricing.

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