consumers and producers Flashcards
1
Q
rising costs
A
decrease profits
increase prices
2
Q
falling cost
A
increase profits
lower prices
3
Q
a change in the cost of production influences..
A
supply
4
Q
supply
A
amt of goods/services brought to a market
5
Q
increase in cost of production
A
decrease in supply
6
Q
decrease in cost of production
A
increase in supply
7
Q
profit
A
total revenue- total cost
