Chapter 2 Vocab

2. When quantity demanded is greater than the quantity supplied there is a:
6. A balanced and efficient market has reached a:
8. Person buying a good or service
11. ____Targeting strategies are used by companies to determine prices for products and services
13. ______ demanded is how many things a consumer will purchase at a specific price

1. ____marketing helps improve the effectiveness of marketing by studying human behavior
2. When quantity demanded is less than quantity supplied there is a:
3. Strategy that evaluates each customer as an individual when creating a price
4. The consumer's desire to purchase a good or service
5. Person or business creating or providing a good or service
7. Strategy that gives different prices to veterans
9. The total amount of a good or service available for purchase by consumers
10. When consumers are more aware of the cost of a product, they are considered price ____
12. ____ of supply and demand is the interaction between consumers/producers