Task 3: Supply and demand quiz: fill with suitable terms to complete the context Quanity demanded=the amount of a gaod that buyers are during a given time period b.) The Law of Demand: Ceteris paribus, the quantity demanded of a good when the price of the good c.) Quantity supplied=the amount of a good that sellers are during a given time period d.) The Law of Supply: Ceteris paribus, the quantity supplied of a good when the price of the good Amarket is in equilibrium if qquantity , quantity f.) Shortage=a sinuation in which quantity demanded is quantity supplied Quantity of shortage=ldots demanded - supplied h.) Surplus = a situation in which quantity supplied is than quantity demanded Quantity of surplus=quantity - quantity -

Question

Task 3: Supply and demand quiz: fill with suitable terms to complete the context Quanity demanded=the amount of a gaod that buyers are during a given time period b.) The Law of Demand: Ceteris paribus, the quantity demanded of a good when the price of the good c.) Quantity supplied=the amount of a good that sellers are during a given time period d.) The Law of Supply: Ceteris paribus, the quantity supplied of a good when the price of the good Amarket is in equilibrium if qquantity , quantity f.) Shortage=a sinuation in which quantity demanded is quantity supplied Quantity of shortage=ldots demanded - supplied h.) Surplus = a situation in which quantity supplied is than quantity demanded Quantity of surplus=quantity - quantity -

Answer 1

Task 3: Supply and demand quiz: fill with suitable terms to complete the contexta.) Quantity demanded = the amount of a good that buyers are willing to purchase during a given time period.b.) The Law of Demand: Ceteris paribus, the quantity demanded of a good decreases when the price of the good increases.c.) Quantity supplied = the amount of a good that sellers are willing to produce and sell during a given time period.d.) The Law of Supply: Ceteris paribus, the quantity supplied of a good increases when the price of the good increases.e.) A market is in equilibrium if quantity demanded equals quantity supplied.f.) Shortage = a situation in which quantity demanded is greater than quantity supplied.g.) Quantity of shortage = quantity demanded - quantity supplied.h.) Surplus = a situation in which quantity supplied is greater than quantity demanded.i.) Quantity of surplus = quantity supplied - quantity demanded.

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