Supply and Demand

Name: Period:

Directions: From the Reading located at http://bizednet.bris.ac.uk/stafsup/options/notes/econ207.htm define the following words.

Supply-

Demand-

Utility-

Consumer tastes-

Competitive supply-

Joint supply-

Utility-

Read further to answer the following questions:

List five factors that influence demand.

List five factors that influence supply.

When does a supply shift occur?