Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the theory that explains the relationship between demand and supply?
What is the theory that explains the relationship between demand and supply?
- Theory of gravity
- Theory of evolution
- Theory of relativity
- Theory of demand and supply (correct)
What happens when demand exceeds supply?
What happens when demand exceeds supply?
- Prices become unpredictable
- Prices decrease
- Prices increase (correct)
- Prices remain the same
What does the theory of demand and supply describe?
What does the theory of demand and supply describe?
- The relationship between price and quantity supplied
- The relationship between price and production costs
- The relationship between price and quantity demanded (correct)
- The relationship between price and consumer preferences
Flashcards are hidden until you start studying
