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Unit 2 Chapter 5

QuestionAnswer
Intersect To cross a point.
Equilibrium Price The price at which the amount demanded equals the amount supplied.
Surplus What happens when, at a given price, more of a good or service is available than people want to buy.
Inventory Products that a business has in stock and that are ready to be sold.
Shortage What happens when, at a given price, people want to buy more of a good or service than is available.
Law of Supply How much supplies is sold each year.
Incentive Not able to be sold.
Cost of Production How much money a product costs.
Created by: Drew_St
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