mad stax Word Scramble
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| Mad | Stakz |
| Scarcity | A product or resource which is rare. |
| Limited means | Restrictions on a person's life, i.e., time, energy, and money. |
| Wants | Things a person does not need but buys for personal reasons. Such as luxury items |
| Opportunity cost | Choosing to do one thing and how that thing restricts future decisions. The next best option after the previous preference. |
| Values | A quality of a person that might dictate their choices. If someone was emotionally scarred by clowns they may not want to go to the circus. |
| Compromise | Choosing a inferior product over another because of certain reasons. Like choosing Whitakers over Bluebird Chips because they contain palm oil. |
| Conflict | Having two existing values, limits, or morals that disagree with each other that may alter purchasing decisions. |
| Law of demand | If the price is lower, sales will be higher. (ceterus Paribus) |
| Things to remember when drawing the demand curve | The graph, title, key, the D for demand, measurement. |
| Change in Quantity demanded | Movement along a curve, caused by a change in price. |
| Demand schedual | A graph that show's how much of one product |
| Change in Demand | A movement due to a change in taste, preference, income, and substitutes. |
| Substitute | A replacement product to another product of the same type of thing. |
| Complement | A product that goes well with another product. |
| Inferior | A product of lower quality that can replace a luxury product. |
| Necessities | Things that are required for a modern style of living. |
| Luxuries | A product of a higher quality that can replace an inferior product. |
| Normal Goods | A product. |
Created by:
dubpirate
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