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Understanding Market Equilibrium and Price Signals

Learn about market equilibrium, price signals, and their impact on supply and demand. Explore topics such as surplus, shortage, bumper crops, and price floors. Understand the effects of government interventions and minimum wage laws.

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Understanding Market Equilibrium and Price Signals

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  1. $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

  2. Prices asSignals

  3. PredictingPrices

  4. DistortingPrices

  5. AgriculturalPrice Supports

  6. Vocabulary

  7. Prices as Signals Predicting Prices Distorting Prices Agricultural Price Supports Vocabulary $ $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

  8. C 1 - $100 Situation where the quantity demanded is equal to the quantity supplied

  9. C 1- $200 Price where the quantity supplied equals the quantity demanded

  10. C 1- $300 Situation where quantity supplied is greater than quantity demanded at a given price

  11. C 1- $400 Situation where quantity demanded is greater than quantity supplied at a given price

  12. C 1- $500 In a market economy a high price is a signal for…

  13. C 2 - $100 In a competitive market economy markets tend to run themselves to find this

  14. C 2- $200 Term used to describe when a farmer grows a better than anticipated yield

  15. C 2- $300 In the graph which curve represents the “bumper crop” yield for soybeans?

  16. C 2- $400 What is the equilibrium price for the “worst case” yield of soybeans?

  17. C 2- $500 Why do the changes in supply affect prices more in graph A? Graph A Graph B

  18. C 3 - $100 Ticket that entitles the holder to a certain amount of a product

  19. C 3- $200 Maximum legal price that can be charged for a product

  20. C 3- $300 Lowest legal price that can be paid for a product

  21. C 3- $400 Lowest legal wage that can be paid to most workes

  22. C 3- $500 The federal minimum wage law demonstrates a trade-off between which two Socio-economic goals?

  23. C 4 - $100 Price floor set to stabilize farm prices

  24. C 4 - $200 Check sent to producers that makes up the difference between the actual market price and the target price

  25. C 4 - $300 Agricultural loan that caries no penalty or further obligation if not repaid

  26. C 4 - $400 This government agency established a target price to stabilize farm prices

  27. C 4 - $500 This 1985 program paid farmers not to farm

  28. C 5- $100 Monterey value of a product as determined by supply and demand

  29. C 5 - $200 A simplified version of a complex behavior expressed in the form of an equation, graph, or illustration

  30. C 5- $300 Partial refund of a product’s original price

  31. C 5- $400 System of allocating goods and services without prices

  32. C 5- $500 A dificiency payment is an example of a government payment to encourage an economic activity - which is called this economic term

  33. C 1 A - $100 Market Equilibrium $

  34. C 1 A- $200 Equilibrium Price $

  35. C 1 A- $300 Surplus $

  36. C 1 A- $400 Shortage $

  37. C 1 A- $500 Producers to supply more and consumers to buy less $

  38. C 2 A- $100 Equilibrium or Market Equilibrium $

  39. C 2 A- $200 Bumper Crop $

  40. C 2 A- $300 Curve S1 $

  41. C 2 A- $400 $10 a bushel $

  42. C 2 A- $500 The Demand Curve “A” is Inelastic Graph A Graph B $

  43. C 3 A - $100 Ration Coupon $

  44. C 3 A - $200 Price Ceiling $

  45. C 3 A - $300 Price Floor $

  46. C 3 A - $400 Minimum Wage $

  47. C 3 A - $500 Economic Equity Over Economic Efficiency $

  48. C 4 A - $100 Target Price $

  49. C 4 A - $200 Deficiency Payment $

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