Supply/Demand
what represents the number of goods available
supply
what is it called when there's little supply
scarce
What is it called when something can re-make a resource
renewable
what happens to value of money in an recession
goes up
what is the amount of money a bank keeps on hand
reserve
What demonstrates the want of people to buy an item
demand
what is it called when there is a lot of supply
plentiful
what is it called when a resource can't be renewed
non-renewable
why does inflation happen
too much money
who decides the amount of money banks have on handd
fed. reserve
what happens to supply as price goes up
up
what's it called when there's not enough supply
scarcity
what is something used to make a product
resource
what is a loan to the government
bond
tell me one way the fed. reserve alters money supply
loans money, buy and sell bonds, tells banks how much money it can loan out
what happens to price as demand goes down
up
what's it called when there's too much supply
surplus
supply
why does a recession happen
not enough money
what's the term for everything being connected
interdependence
what is it called when supply and demand are equal
equilibrium price
what happens to price as supply goes up in a surplus
down
explain the difference between renewable and non-renewable
renewable can remake itself, nonrenewable can't
what happens to value of money in inflation
down
what does the difference in Law of Supply (LOS) and Law of Demand have to do (LOD)
the S and D