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 -

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