Show:
Supply & Demand
Economics
Type of Goods
Circular Flow
Supply and Demand Schedule and Chart
100
The amount of a good that sellers are willing and able to sell.
What is Quantity Supplied
100
The study of economy-wide phenomena, including inflation, unemployment, and economic growth.
What is Macroeconomics
100
A good for which, other things equal, an increase in income leads to an increase in demand.
What is Normal Good
100
Visual model of the economy that shows how dollars flow through markets among households and firms.
What is the Circular-flow diagram
100
A table that shows the relationship between the price of a good and the quantity supplied.
What is Supply Schedule
200
The claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.
What is Law of Demand
200
A group of buyers and sellers of a particular good and service.
What is Market
200
Two goods for which an increase in the price of one leads to a decrease in the demand for the other.
What is Complements
200
Where goods and services are produced and sold and where there is use of Factors of Production.
What is Firms
200
A graph of the relationship between the price of a good and the quantity demanded.
What is Demand Curve
300
The amount of goods that buyers are willing and able to purchase.
What is Quantity Demanded
300
the study of how society manages its scarce resources.
What is Economics
300
A good for which, other things equal, an increase in income leads to a decrease in demand.
What is Inferior Good
300
Where Firms buy and Households sell.
What is the Market of Factors of Production
300
A graph of the relationship between the price of a good and the quantity supplied.
What is Supply Curve
400
The claim that, other things equal, the quantity supplied of a good rises when the price of the good rises.
What is Law of Supply
400
The study of how households and firms make decisions and how they interact in markets.
What is Microeconomics
400
Two goods for which an increase in the price of one leads to an increase in the demand for the other.
What is Substitutes
400
Where goods and services are bought and consumed and where Factors of Production are owned and sold.
What is Households
400
A situation in which quantity supplied is greater than quantity demanded.
What is Surplus
500
A table that shows the relationship between the price of a good and quantity demanded.
What is Demand Schedule
500
Society getting the most it can from its scarce resources.
What is Efficiency
500
a situation in which the market price has reached the level at which quantity supplied equals quantity demanded.
What is Equilibrium
500
Where Firms sell and Households buy.
What is Markets for Goods and Services
500
A graph that combinations of output that the economy can possibly produce.
What is Production possibilities frontier