Here are the remaining supply and demand questions that continue with yesterday's assignment. We will have a few minutes to finish up yesterday's questions before working on the questions for today.
With the last half our we are going to do a supply and demand t-shirt activity.
Remember when submitting assignments to have your name, the assignment title, and the date on your assignment.
Supply and Demand Part II
5. What is meant by the term supply?
6. What is the Law of Supply?
7. Complete the following chart about the
conditions that affect supply.
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Factor (Change in...)
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Description and
Example
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Number
of producers
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Price of related goods
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Technology
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Expectations
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Cost of Production
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8. What are some of the factors that affect
price? How does this affect demand?
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