Economics 2nd Quarter
Vocabulary
Vocabulary
26
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Set of flashcards Details
| Flashcards | 26 |
|---|---|
| Language | English |
| Category | Finance |
| Level | Secondary School |
| Created / Updated | 27.10.2015 / 09.11.2015 |
| Licencing | Not defined (Holt McDougal) |
| Weblink |
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The desire and ability to produce and sell a product.
It occurs when the quantity demanded and the quantity supplied at a particular price are equal.
The price at which the quantity demanded and the quantity supplied are equal.
The result of quantity supplied being greater than quantity demanded.
The result of quantity demanded being greater than quantity supplied.
It occurs when quantity demanded and quantity supplied are not in balance.
It occurs when producers sell products at lower prices to lure customers away from rival producers, while still making a profit.
It encourages people to act in certain ways.
