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What is demand? 2. What is the law of demand? 3. Describe the slope of the demand curve? How does the slope reflect the law

  1. What is demand?

2. What is the law of demand?

3. Describe the slope of the demand curve? How does the slope reflect the law of demand?

4. List the determinants of demand, or those non-price determinants that can shift the demand curve to the right or left.

5. What is the difference between change in quantity demanded and change in demand?

6. What is supply?

7. What is the law of supply?

8. Describe the slope of the supply curve. How does the slope reflect the law of supply?

9. List the determinants of supply, or those non-price determinants that can shift the supply curve to the right or left.

10. What is the difference between change in quantity supplied and change in supply?

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