Save
Upgrade to remove ads
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

202 Supply and Deman

BE 202 Supply and Demand

TermDefinition
buyer's market the best time for consumer to buy characterized by large supply small demand and low prices
buying power the amount of money available
complementary goods products that are used together (ski boots and skis)
consumer buying power cash and credit a consumer has a variable to spend
cost of production the total amount of money spent on cost of materials labor taxes ect to manufacture economic goods and services
demand the quantity of a good or service that buyers are ready to buy at a given price at a particular time
elastic demand a form of demand for products in which changes in price correspond to changes in demand
elasticity an indication of how changes in price will affect change in the amounts demanded and supplied
equilibrium the point at which the quantity supplied is equal to the quantity demanded
equilibrium price the point at which the quantity of a good that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price
inelastic demand a form of demand in which changes in prices do not affect demand
law of demand economic principle which states that the quantity of a good or service that people will buy varies inversely with the rice of the good or serivce
law of supply economic principle which states that the quantity of a good or supply that will be offered for sale arise in direct relation to its price
law of supply and demand economic principle which states that the supply of a good or service will increase when demand is great and decease when demand is low
sellers market the best time for producers to sell characterized by demand large supply and high prices
Created by: Eli_davis
 

 



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