WS

(+10 MAX FOR TEST)

 DEMAND

 What is Demand?
 What is the relationship between Price and Quantity
demanded?
 What is the Law of Demand?
 Draw Demand curve! Use example.
 What is contraction in demand? With graph
 What is extension in demand with Graph
 List Non- Price determinants of Demand
 Explain Increasing in Demand.
 Explain Decreasing in Demand.
 SUPPLY

 What is Supply?
 What is the relationship between Price and Quantity suplied?
 What is the Law of Supply?
 Draw Supply curve! Use example.
 What is contraction in Supply? With graph
 What is extension in Supply with Graph
 List Non- Price determinants of supply
 Explain Increasing in Supply.
 Explain Decreasing in Supply.
 MARKET EQUILIBRIUM

 WHAT IS EQUILIBRIUM Market?

 What is Equilibrium Price?
 What is Equilibrium Quantity?
 What is Excess Demand? Draw the graph to explain
 What is excess Supply? Draw the graph to explain
 What will happen to the price when there is excess demand?
 What will happen to the price when there is excess supply?