Definition of demand.

Why do demand curves slope downwards?

What is the goal of 'typical' consumers?

What happens to the demand curve if the price of the good changes?

What are the factors that causes the demand curve to shift?

What are substitute goods?

Why do substitute goods shift the demand curve?

What are complementary goods?

Why do complementary goods shift the demand curve?

Why do changes in tastes shift the demand curve?

Why does the size of the market shift the demand curve?

Why does the age distribution of the population affect the pattern of demand?

Why do expectations of changes in market prices or income shift the demand curve?

Definition of supply.

Why do supply curves slope upwards?

What is the incentive of suppliers?

What do changes in price do to the supply curve?

What are the factors that cause the supply curve to shift?

Why does cost production shift the supply curve?

Why do changes in technology shift the supply curve?

Why do changes in productivity shift the supply curve?

Why do changes in government policy shift the supply curve?

Give an example of why changes in the price of a good that is jointly supplied shift the supply curve?

Give an example of why changes in the price of a good in competitive supply shift the supply curve?

Why do changes in the size of the market shift the supply curve?

Why do changes in expectations shift the supply curve?

Definition of equilibrium price.

Factors that affect equilibrium.

What does an increase in demand do to the equilibrium?

What does a decrease in demand do to the equilibrium?

What does an increase in supply do to the equilibrium?

What does a decrease in supply do to the equilibrium?

What happens to equilibrium price if there's excess demand?

What happens to equilibrium price if there's excess supply?

Using the price mechanism, what happens if demand increases resulting in excess demand?

Using the price mechanism, what happens if demand decreases resulting in excess supply?