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Questions and Answers
Supply and demand is a concept found in macroeconomics.
Supply and demand is a concept found in macroeconomics.
False (B)
The price of goods, services, or assets will remain constant until it reaches a point of certainty.
The price of goods, services, or assets will remain constant until it reaches a point of certainty.
False (B)
In supply and demand, the supply refers to how much of a certain good, service, or asset is available.
In supply and demand, the supply refers to how much of a certain good, service, or asset is available.
True (A)
If a lemonade stand has enough ingredients for 3 carafes of lemonade, its supply is 3 carafes.
If a lemonade stand has enough ingredients for 3 carafes of lemonade, its supply is 3 carafes.
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Economic equilibrium is a balanced state of supply and demand.
Economic equilibrium is a balanced state of supply and demand.
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