Supply and Demand

Question 1

As price increases, quantity demanded increases As price increases, quantity demanded decreases Price has no impact on quantity demanded As price decreases, quantity demanded decreases

Question 2

As price increases, quantity supplied increases As price decreases, quantity supplied increases As price decreases, quantity supplied remains constant Supply is based on producer's mood

Question 3

The price at which quantity supplied exceeds quantity demanded The price at which quantity demanded exceeds quantity supplied The price at which quantity supplied equals quantity demanded The highest price consumers are willing to pay