part two directions: label the following graph using these terms: supply curve, demand curve, equilibrium…

part two directions: label the following graph using these terms: supply curve, demand curve, equilibrium price, shortage, surplus. 8 points for each correct label.\ncitation: https://commons.wikimedia.org/wiki/file:economics_demand_and_supply_curves.jpg, adapted by ncvps developer.\na \n \nb \n \nc \n \nd \n \ne \n \namerican history the founding principles civics and economics images created by natasha wippel and used with permission.

part two directions: label the following graph using these terms: supply curve, demand curve, equilibrium price, shortage, surplus. 8 points for each correct label.\ncitation: https://commons.wikimedia.org/wiki/file:economics_demand_and_supply_curves.jpg, adapted by ncvps developer.\na \n \nb \n \nc \n \nd \n \ne \n \namerican history the founding principles civics and economics images created by natasha wippel and used with permission.

Answer

Brief Explanations:

In an economics supply - demand graph, the demand curve slopes downwards, the supply curve slopes upwards. The equilibrium price is at the intersection of supply and demand. A shortage occurs when quantity demanded exceeds quantity supplied at a given price, and a surplus when quantity supplied exceeds quantity demanded.

Answer:

A. Surplus B. Supply Curve C. Equilibrium Price D. Shortage E. Demand Curve