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8BAT The Price Mechanism fill-in

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8BAT The Price Mechanism fill-in

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The Price Mechanism fill-in

Created by

Kristy Flikweert
Kristy Flikweert
Australia

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8BAT The Price Mechanism fill-inOnline version

The Price Mechanism fill-in

by Kristy Flikweert
1

a . The curve represents the relationship between the of a good or service and the customer for that good or service .

2

b . The relationship between the price and the quantity demanded is explained by the of : the lower the price of a good or service , the the quantity that will be demanded by consumers .

3

c . If the price falls , consumer for ice blocks will expand and , therefore , the quantity demanded will .

4

a . The curve represents the relationship between the of a good or service and the quantity of the good or service a producer will .

5

b . The higher the price a consumer is willing to pay for a good or service , the the quantity the producer will supply . The producer will supply more of a good or service that sells at a price because they want to profits .

6

c . The lower the price a consumer is willing to pay for a good or service , the the quantity the producer will .

 
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