Economics

3. says that, other things being equal, the price and quantity supplied of a good are positively related
5. are two goods that if the price rises in one good the other good decreases in price
6. when the quanity of a good or service demanded exceeds its supply
7. shows how much of a good or service consumers will be willing and able to buy at different prices
8. a good or service that is used to produce another good or service
10. illustrates the relationship between quantity supplied and price for an individual producer
14. the actual amount of a good or service consumers are willing and able to buy at some specific price
15. shows how much of a good or service producers would supply at different prices
17. is a shift of the supply curve which changes the quantity supplied at any given price
18. is the actual amount of a good or service people are willing to sell at some specific price
19. when the supply of a good or service exceeds its demand
20. illustrates the relationship between quantity demanded and price for an individual consumer

1. is a model of how a competitive market works
2. is a shift of the demand curve which changes the quantity demanded at any given price
4. a market in which there are many buyers and sellers of the same good or service
9. a higher price for a good or service all other things being equal leads people to demand a smaller quantity of that good or service
11. an economic situation in which no individual would be better off doing something different
12. a rise in the price of one of the goods leads to an increase in the demand for the other good
13. shows the relationship between the quantity supplied and the price
16. graphical representation of the dmeand schedule it shows the relationship between the quantity demanded and the price