1
Q
How do supply and demand interact?
A
They determine the equilibrium price (where demand = supply) and the equilibrium quantity.
2
Q
What do supply and demand diagrams show?
A
They show causes and consequences of price changes and shifts in equilibrium.
Theme 1: The Market
flashcards
Decks in class (22)
# Cards
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The Market17
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Market Research14
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Market Positioning8
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Demand11
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Supply6
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Markets2
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Price Elasticity of Demand (PED)7
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Income Elasticity of Demand (YED)5
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Product Design12
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Branding/ Promotion8
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Pricing9
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Distribution9
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Marketing Strategy9
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Approaches To Staffing13
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Organisational Design/Structure27
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Motivation In Theory And Practise38
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Leadership Styles12
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Role of an Entrepreneur8
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Entrepreneurial Motives & Characteristics6
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Business Objectives7
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Forms of Business20
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Moving from Entrepreneur to Leader2
