EconomicsNicky Ch 2 Matching
| products whose demand changes inversely with income |
| change in quantity supplied |
| the effect of a price change on quantity supplied |
| a table that shows possible combinations of
prices and quantities supplied
of a product |
| change in quantity
demanded: |
| the effect of a price change on quantity demanded |
| products that can be consumed in place of one another |
| factors that can cause an increase or a
decrease in a product’s demand |
| the relationship between the various possible
prices of a product and the
quantities of the product that
businesses are willing to supply |
| a graph that expresses possible combinations
of prices and quantities
demanded of a product |
| a decrease in the quantity supplied
of a product at all prices |
| the sum of all consumers’ quantity demanded
for a product at each price |
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