Matching Pairs AGBS 100 Review - 2/27/2025Online version Content Review by Mallory Sutherland 1 A box of cereal cost $2.50 in 2012. The same box of cereal today costs $3.25. What is the percent change? 2 Cardinal value 3 Market result of price floor 4 Law of demand 5 Base year 6 Price ceiling 7 Price ceiling (real example) 8 Supply Shifter 9 Ordinal 10 Market result of price ceiling 11 The per capita consumption of peaches was 2.0 pounds per person in 1987. It is 5.5 pounds per person today (% change) 12 Demand shifter 13 Normal good 14 Demand equation 15 Price floor 16 Law of supply 17 Absolute value 18 Price dependent equation 19 It was 100 degrees yesterday. It is 90 degrees today (% change) The candy bar is 30 cents more expensive than last year 10 + 5Q = P Surplus Change in price of complements 23% increase Shortage 100 Effective below price equilibrium 10% decrease As price increases, quantity decreases As price increases, quantity increases My second favorite candy is skittles 175% increase Rent control Change in the price of alternative crops The cost of a meal in India is 500 rupees Effective above price equilibrium As income decreases, quantity demanded decreases Q = 3 - 2P
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