Ch 3 Flashcards

1
Q

Demand

A
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2
Q

Demand Schedule

A
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3
Q

Law of Demand

A
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4
Q

Diminishing Marginal Utility

A
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5
Q

Income Effect

A
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6
Q

Substitution Effect

A
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7
Q

Demand Curve

A
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8
Q

Determinants of Demand

A
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9
Q

Normal Goods

A
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10
Q

Inferior Goods

A
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11
Q

Substitute Goods

A
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12
Q

Complementary Good

A
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13
Q

Change in Demand

A
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14
Q

Change in Quantity Demanded

A
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15
Q

Supply

A
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16
Q

Supply Schedule

A
17
Q

Law of Supply

A
18
Q

Supply Curve

A
19
Q

Determinants of Supply

A
20
Q

Change in Supply

A
21
Q

Change in Quantity Supplied

A
22
Q

Equilibrium Price

A
23
Q

Equilibrium Quantity

A
24
Q

Surplus

A
25
Q

Shortage

A
26
Q

Productive Efficiency

A
27
Q

Allocative Efficiency

A
28
Q

Price Ceiling

A
29
Q

Price Floor

A