Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Demand

TermDefinition
Demand the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period
Market freely chosen activity between buyers and sellers of goods and services
Law of Demand economic rule stating that the quantity demanded and price move in opposite directions
Quantity Demanded the amount of a good or service that a consumer is willing and able to purchase at a specific price
Real Income Effect economic rule stating that individuals cannot keep buying the same quantity of a product if its price rises while their income stays the same
Substitution Effect economic rule stating that if two items satisfy the same need and the price of one rises, people will buy more of the other
Law of Diminishing Marginal Utility situation in which a product's price change has little impact on the quantity demanded by consumers
Marginal Utility an additional amount of satisfaction
Utility the ability of any good or service to satisfy consumer wants
Demand Curve downward-sloping line that shows in graph form the quantities demanded at each possible price
Demand Schedule table showing quantities demanded at different possible prices
Complementary Good a product often used with another product
Elasticity economic concept dealing with consumers' responsiveness to an increase or decrease in price of a product
Price Elasticity of Demand economic concept that deals with how much demand varies according to changes in price
Elastic Demand situation in which a given rise or fall in a product's price greatly affects the amount that people are willing to buy
Inelastic Demand situation in which a product's price change has little impact on the quantity demanded by consumers
Created by: abreland
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards