Supply & Demand at Work

Published on Apr 10, 2016

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PRESENTATION OUTLINE

Supply & Demand at Work

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Equilibrium Price/Point

Where supply and demand are balanced. Neither a surplus or a shortage

Surplus

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the amount by which the quantity supplied is higher than the amount demanded

Shortage

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The amount by which the quantity demanded is higher than the quantity supplied

Profit

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The money received for sale of G/S after expenses are paid in full

Subsidy

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Government payment to individual or business to cover part of the expenses for a G/S

Productivity

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The ratio of output to input

Ed Snavely

Haiku Deck Pro User