MBA 701 - Module 1 GRADED A+

Com MBA 701 - Module 1
plement of creamer price going up - correct answers less coffee is bought

Surplus and shortage are - correct answers market phenomenons

Demand higher than supply - correct answers shortage

Supply more than demand - correct answers surplus

Shortage - correct answers price goes up

equilibrium price price higher than available

Surplus - correct answers price goes down

reaches lower equilibrium

Factors shifting demand curve - correct answers change in preference/taste,

# of consumer available

income level

price of related g/s

expectations

Shift to the right - correct answers more demand

Shift to the left - correct answers less demand

Factors shifting supply curve - correct answers cost of input for production

price of related g/s

technology

expectations

# of producers

Labor, capital, materials are expensive - correct answers = shift to the left

Market equilibrium - correct answers no surplus or shortage

ME point - correct answers where price and demand intersect

ME stable point - correct answers of equilibrium

Demand curve shows - correct answers negative (inverse) relationship between price and quantity

Supply of product goes down and demand goes up, equilibrium - correct answers supply shifts to the
left (less)