1. Does a price change cause a movement along a demand curve or shift of the entire curve? What factors cause the entire demand curve to shift?

2. Describe the difference between inferior goods and normal goods. Give and example of each type of good.

3. Why does the supply curve slope upward.

4. Does a price change cause a movement along a supply curve or a shift of the entire curve? What factors cause the entire supply curve to shift.

5. Describe a the process that leads a market toward equilibrium.