2.02E Pricing - VOCABULARY for Business Essentials
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The best time for consumers to buy; characterized by large supply, small demand, and low prices
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| show | People who use goods and services to satisfy their wants
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| Demand | show 🗑
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| Demand price | show 🗑
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| Equilibrium price | show 🗑
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| Excess demand | show 🗑
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| Excess supply | show 🗑
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| show | A function of relative prices that encourages producers to change and reallocate their resources; motivators
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| show | Any circumstance under which buyers and sellers exchange goods or services for a price
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| show | Equilibrium price
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| Market price | show 🗑
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| Price | show 🗑
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| show | A maximum legal price that businesses can charge for certain products
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| Price controls | show 🗑
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| Price information | show 🗑
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| Producers | show 🗑
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| Profit | show 🗑
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| show | A function of relative prices that determines who gets the goods and services produced; determining how scarce resources will be distributed
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| show | One price compared to another; the ratio between two prices
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| show | Those who provide human resources, natural resources, and capital goods in order for production to take place
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| show | The best time for producers to sell; characterized by large demand, small supply, and high prices
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| show | A phenomenon that occurs when changes in relative prices cause buyers to replace the purchase of one product with another
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| Supply | show 🗑
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| Supply price | show 🗑
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| Value | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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