Key Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The best time for consumers to buy; characterized by large supply, small demand, and low prices
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| Cost of production | show 🗑
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| Demand | show 🗑
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| Elastic demand | show 🗑
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| Elasticity | show 🗑
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| show | A form of demand in which changes in price do not affect demand
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| show | Economic principle which states that the quantity of a good or service that people will buy varies inversely with the price of the good or service
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| Law of Supply | show 🗑
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| Law of Supply and Demand | show 🗑
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| Seller's market | show 🗑
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| Substitute goods | show 🗑
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| Supply | show 🗑
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| Utility | show 🗑
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| Equilibrium Price | show 🗑
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| show | Complementary goods are products which are used together.
Examples:
Tennis balls and tennis rackets.
iPhone and Apps to use with an iPhone.
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Created by:
scotts.moore
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