TCI Lesson 5 Supply and Demand

quantity of a good or service that consumers are both willing and able to buy

as the price of a good or service increases, the quantity supplied increases, and vice versa

amount of money a firm receives in the course of doing business

quantity of a good or service that producers are willing and able to offer for sale

product that is used or consumed jointly with another product

a product that satisfies the same basic want as another product

a government payment to a supplier of goods or services, designed to help that supplier

as the price of a good or service increases, the quantity demanded decreases, and vice versa