Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

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.
We do not share your email address with others. It is only used to allow you to reset your password. For details read 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.
Didn't know it?
click below
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
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 and Supply

Nrhsecovit Vocabulary of Market interaction

exists in a market when the quantity of a good that a buyers are willing and able to buy is equal to the quantity of the good that sellers are willing and able to produce and offer for sale (Qd=Qs) equilibrium
condition in a market when the quantity supplied of a good is greater than the quantity demanded surplus
stock of goods that a business or store has on hand inventory
the price at which a good id bought and sold in a market that is in equilibrium equilibrium price aka. market clearing price
the quantity of a goog that is bought and sold in a market that is in equilibrium equilibrium quantity
government intervention to offset prices that may be too high or too low for the gerneral welfare price control
a legislated price, set above the equilibrium price, below which buyers and sellers cannot legally buy or sell a good price floor
a legislated price, set lower than the equilibrium price, above which buyers and sellers cannot legally buy and sell a good price ceiling
rent control is an example of this price control price ceiling
minimum wage is the classic example of this kind of price control price floor
condition in which quantity demanded exceeds quantity supplied shortage
black market The illegal business of buying or selling goods or currency in violation of restrictions such as price controls or rationing.
off the books colloquial for working outside of legal limits Payments for which no formal record is kept
price gouging illegal in most states, the practice of taking advantage of a situation in order to drive up the price, pricing above the market when no alternative retailer is available -----------------------------------------------------------------------------
Created by: nrhsecovit



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:
restart all cards