Chapter 6 Test .docx - Bryan Martinez 7th period Chapter 6 Test 1 It\u2019s the interaction of supply and demand that determines the price 2 Because if you

Chapter 6 Test .docx - Bryan Martinez 7th period Chapter 6...

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Bryan Martinez 12-7-2020 7 th period Chapter 6 Test 1. It’s the interaction of supply and demand that determines the price. 2. Because if you have a SURPLUS and there’s too much of something then the quantity demanded is too low not meeting the quantity supplied. And when there is a SHORTAGE than the quantity then the quantity demanded is too high to meet the quantity supplied. 3. It’s the interaction of supply and demanded that determines the price. 4. When do prices serve as signals and incentives for producers to enter a market? When the price rises. 5. The RESULTS of the PRICE FLOOR is that the quantity supplied Qs

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