EMN Inflation

1. a place where a good is bought and a good is sold
4. goods that are considered harmful to society
7. a rightward shift of the demand curve
8. one of the main reasons that there would be a decrease in supply of a good in a market
10. the part a graph that shows the firm's ability to produce goods and services at a range of prices
11. the buyers of goods and services
15. the sector of the economy that pay direct tax
16. when needs and wants are greater than the ability to satisfy those needs and wants
17. the payment that the government provides to firms to lower costs of production
18. the total amount of money the firm receives after selling goods and services
19. a government sets a limit on the quantity of goods that can be imported
20. the sector of the economy that pay indirect tax

1. goods that are considered beneficial to society
2. as household incomes increase, the demand this type of good increases because it is considered higher quality
3. goods that can be used in place/instead of each other
5. a phase in the economy where employment is low and demand is low
6. a good that goes well with another good
7. as household incomes increase, the demand for this type of good decreases because it is considered poorer quality
9. when there is a higher demand for goods than the amount supplied
12. a tax that the government places on imported goods
13. the revenue a firm receives minus the costs involved to make the product
14. an intervention that prevents firms from selling a product higher than a previous equilibrium price