SUPPLY$/$DETERMINANT

While the determinants of supply include input prices, technolegy, number of sellers, and future expectation, demand is determ inel by other factors.

DEMAND SCHEDULE$/$DEMAND CURVE

A demand schedule is a table that shows the quantity demanded at each While a demand curve is a graph that shous the quantity demanded at ear SUBSTITUTION EFFECT$/$COMPLEMENTS

substitute goods are consumed in place of each bther, whereas complement are consumed together.

Identify

Directions: Use the examples below to identify the vocabulary term.

$6.$ The price of eggs has increased by approximately $60\%$ since January $2022.$ Because of the price increase of eggs, restaurants serving breakfast have seen a drop in demand for omelets in recent months.

$7.$ As the price of gas fell by almost $$2\mathrm{.}00$ between July $2022$ and December $2022,$ the number of people buying gas increased.

$8.$ In some U$.$S$.$ cities, the rent of some apartments cannot exceed a certain percentage of a person's yearly income.

$9.$ Because Seattle has raised their minimum wage to almost $$19\mathrm{.}00,$ there are not enough jobs for residents of Seattle.

$10.$ Due to the price of widgets being set at $$1\mathrm{.}00,$ convenience stores$/$gas stations are struggling to keep up with the demand for widgets.

$11.$ The minimum wage in Texas is $$7\mathrm{.}25.$

$12.$ Nike has decided that for every $$25\mathrm{.}00$ above $$80\mathrm{.}00,$ they will increase production of Air Jordan $1$ Retros by $100$ units.