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Supply  and Demand
Price    Amount at which a good/service will be    sold in a market
Supply   How much of a good/service a producer is   willing and able to produce at a given price   -Seller’s Market
SupplyDollars   $40.00   $30.00   $20.00   $10.00            100   200   300   400   500   Quantity
Demand  An individual’s need/want for a  good/service at a given price   -Buyer’s Market
DemandDollars   $40.00   $30.00   $20.00   $10.00            100   200   300   400   500   Quantity
Law of Demand   As the price of a good/service   decreases, the demand of that   good/service will increase.
Law of Supply   As the price of a good/service   increase/decreases, the supply of that   good/service will also increase/...
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Supply and Demand

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Transcript of "Supply and Demand"

  1. 1. Supply and Demand
  2. 2. Price Amount at which a good/service will be sold in a market
  3. 3. Supply How much of a good/service a producer is willing and able to produce at a given price -Seller’s Market
  4. 4. SupplyDollars $40.00 $30.00 $20.00 $10.00 100 200 300 400 500 Quantity
  5. 5. Demand An individual’s need/want for a good/service at a given price -Buyer’s Market
  6. 6. DemandDollars $40.00 $30.00 $20.00 $10.00 100 200 300 400 500 Quantity
  7. 7. Law of Demand As the price of a good/service decreases, the demand of that good/service will increase.
  8. 8. Law of Supply As the price of a good/service increase/decreases, the supply of that good/service will also increase/decrease.
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