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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Demand |
The ability and willingness of consumers to purchase a certain good at a certain price. |
I buy because I can and I want. |
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Supply |
The ability and willingness of producers to sell a certain good at a certain price. |
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Price Elasticity of Demand |
A measure of how much the demand for a product changes due to changes in the price charged for the product. |
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Microeconomics |
The part of economics that focus on the study of individual markets. |
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Macroeconomics |
The part of economics that focus on the study of the economy as a whole. |
Aggregate |
