chap 21
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| demand | the desire willingness and ability to buy good or services
🗑
|
||||
| demand schedule | table showing quantities demanded at a different possible price
🗑
|
||||
| demand curve | downward slipping line in that graphically show the quantities demanded at each possible price
🗑
|
||||
| law of demand | the concept that all people are normally willing to buy less of product if the price is high and none if the price is low
🗑
|
||||
| market demand | free and willing exchange of goods a services between buyers and sellers
🗑
|
||||
| utlity | the amount of satisfaction one gets from goods or services
🗑
|
||||
| marginal utility | additional use that derived from each and acquired
🗑
|
||||
| substitute | a competing product that consumers can use in place of another
🗑
|
||||
| complement | product other used with another product
🗑
|
||||
| demand elasticity | measures of responsiveness relating change in inequality demanded to a change in the price
🗑
|
||||
| supply | the amount of good and services that producers are able and willing to sell at various prices during a specified time period
🗑
|
||||
| law of supply | the princple that suppliers will normally offer more sale of higher prices and less at lower prices
🗑
|
||||
| supply schedule | table showing quantities supplied at different possible prices
🗑
|
||||
| supply curve | upward sloping line that graphically show the quantities supplied at each possible price
🗑
|
||||
| profit | the money a business receives for its product ans services over and above its price
🗑
|
||||
| market supply | the total of all supply schedule of all business that provide the same goods or services
🗑
|
||||
| productively | the degree in which resources are being used effectively to produce goods and services
🗑
|
||||
| technology | the method or process used to make goods and services
🗑
|
||||
| subsidy | a government payment to an individual business or group in exchange for certain actions
🗑
|
||||
| supply elasticity | responsive of quantity supplied to change the price
🗑
|
||||
| surplus | situations in which quantity supplied is greater than quantity demanded situtation in which the goverment spend less than it collects in the nevenues
🗑
|
||||
| shortage | situations in which quantity demanded is greater than quantity supplied
🗑
|
||||
| equilibrium | the philosophy or spirit of equality
🗑
|
||||
| price celling | price that you can change for goods and services set by the government `
🗑
|
||||
| price floor | minimum price that can be changed for goods and services set by the government
🗑
|
||||
| minimum wage | lowest legal wage that can be paid to most us workers
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
somonnemclean
Popular History sets