quiz 3

Quizze #3

Supply and Demand, Chapter 4

1) Graph a Demand curve and explain how to draw it with a data base
2) Graph a Supply curve and explain how to draw it with a data base
3) Graph a Supply curve and a Demand curve interacting which is a market
      When there is price equilibrium ?  Define equilibrium.
4) Graph a Market and assume that the price is higher than the price equilibrium.
      How is the difference between Quantity Demanded and Quantity Supplied ?
5) Graph a Market and assume that the price is lower than the price equilibrium.
      How is the difference between Quantity Demanded and Quantity Supplied ?