Eco/365 week 1 supply and demand curve worksheet

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Supply and Demand Curves

 

 

 

Answer the following questions

 

Write the definition for each of the following:

 

  1. Law of Demand

 

 

 

 

  1. Law of Supply

 

 

 

 

 

Which of the following graphs best demonstrates the law of demand?

 

a)     I

b)    II

c)     III

d)    IV

 

 

Which of the following graphs best demonstrates the law of supply?

 

a)     I

b)    II

c)     III

d)    IV