Coach Buldini Supply and Demand Vocabulary

Decrease in satisfaction or usefulness from acquiring one or more of a product.

the amount of money a entrepreneur receives in the course of doing business.

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

Additional satisfaction or usefulness from acquiring one or more of a product.

Graph Showing the quantity demanded at every possible price.

Something that motivates.

Government payment to encourage or protect a certain economic activity.

Amount of a product a producer or seller would be willing to offer for sale.

a list of the quantities of a good that one person will buy at various prices.

the quantity of a good or service that consumers are willing and able to buy at various prices.

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

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

graph that shows the relationship between price and the quantity that producers are willing and able to supply.

Deals with smaller economic questions such as individuals and Firms.

Change in the amount offered for sale in response to price change.

a product that satisfies the same basic want as another product.

degree to which the quantity demanded or supplied of a good or service changes in response to a change in price.

a product that is used or consumed jointly with another product