Supply and demand 1
Desire to own something and the ability to pay for it
Demand
Change in demand due to consumer income
Income efeect
This is a concentration that a person is highly skilled at. Mr. Freeman is a teacher but history is his
Specialization
Who is the mayor of Greenwood
Carolyn McAdams
Who is 1 of the U S History teachers at GHS
Mccluney, Womack
When price increases the demand decreases and when prices decrease the demand increases.
Law of the demand
Ceteris Parabis means
All other things be equal
A business can also be called a
Firm
Name one city councilperson
Stevenson, Dorothy Glenn, Mccoy, Jennings, Cookston, Powell, Palmer
Who was the principal before Mrs. Sanders
Cleark
The goods people buy when their money is short or their regular items gets too expensive
Inferior goods
If the price of beef goes up and people buy more chicken this is called
The substitution effect
A ___________ is an arrangement where buyers and sellers are allowed to exchange things
Market
School that used to be GHS
Davis Elementary
What 2 teachers played in the state football championship together?
Freeman, Bonner
A table that shows the quantity of a good that all consumers in a market will buy at different prices
Demand schedule
If your income stays high you will continue to buy
Normal goods
A person or group of people living in a single residence.
Household
State senator that used to be city councilman
David Jordan
About how many students attend GHS now?
600
Goods which demand rises when income rises
Normal goods
Statistical characteristics of a population
Demographics
The Father of Economics
Adam Smith
The park that was once a slave graveyard
The City Park
Name the football coach that played QB at MVSU
Weaver