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Name: ___________________________________________ Date: ___________________

Supply and Demand


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2. The amount that a supplier is 18. A table that lists the 1. The amount of goods 8. when consumers react to an
willing and able to supply at a quantity of a good a person will available. increase in a goods price by
specific price. buy at various prices in a 3. The cost of operating a consuming less.
4. When producers offer more of market. facility such as a factory or a 10. a graphic representation of a
a good as its price increases. 19. The change in consumption store. demand schedule.
9. A cost that does not change. that results when a price 5. A measure of how consumers 12. The total cost divided by the
11. The cost of producing one increases causes real income to respond to price change. quantity produced.
more unit of a good. decline. 6. A good that consumers 14. A table that lists the
13. The statistical 20. To buy more of a good when demand less of what their quantity of a good all consumers
characteristics of population and its price is lower. incomes increase. in a market will buy at various
population segments. 21. The desire to own something 7. The total amount of money a prices.
16. A good that consumers and the ability to pay for it. company receives by selling 15. A cost that rices or falls
demand more when their 22. A tax on the production or goods or services. depending on the quantity
incomes increases. sale of a good. produced.
17. The sum of fixed costs plus
variable costs.

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