Instructions: Identify the Following

question 50

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Alexander McGillivray

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Definitions:

Increase

An upward movement in quantity, price, or value.

Increase in Supply

A situation where the quantity of a good or service that producers are willing to supply at a given price rises.

Increase in Demand

A situation where consumers are willing and able to purchase more of a good or service at each possible price, often depicted by a rightward shift in the demand curve.

Decrease

A reduction in size, number, value, or extent.