Demand and supply bingo

Exercise and reference answers

Clues and terms

1. Clue

   Willing and able to buy.

   Item

   Demand

2. Clue

   Willing to make and sell.

   Item

   Supply

3. Clue

   Where the two curves meet.

   Item

   Equilibrium

4. Clue

   Unsold stock piles up.

   Item

   Surplus

5. Clue

   Income up, demand up.

   Item

   Normal good

6. Clue

   Income up, demand down.

   Item

   Inferior good

7. Clue

   Used in place of another.

   Item

   Substitute

8. Clue

   Used along with another.

   Item

   Complement

9. Clue

   Legal maximum price.

   Item

   Ceiling

Instructions

Read each clue and tap the term it describes.

Explanation