DEMAND & SUPPLY - 21 Flashcards

1

The methods/services used to make goods & services are called ____

2

Products like DVDS are called _____ b/c demand four one moves in opposite direction as other

3

Total demand may change if more consumers enter the market, consumer tastes change, or ___

4

According to the law of demand, quantity demanded and price ____

5

One of the strengths of a market economy is that ____

6

Diminishing marginal utility is the explanation for the consumer's decision to ___

7

Graph that shows the amount of a product that would be bought at all prices in the market

8

At the ___ price there is neither a surplus nor a shortage

9

Businesses invest time, money, & other capital resources for the primary motive of ___

DEMAND & SUPPLY - 21