What is the amount of a good or service that a consumer is willing to buy called
🔄 Click to see definition
Definition1/11
Demand is considered what consumers are willing and able to buy.
If the product or service is too expensive, then people won't buy
it because they can't afford it and there will be no demand. If
it's affordable but people don't see the use, they still won't buy
it and there will still be no demand. In order to create demand, a
product has to be both useful and affordable. The more useful and
affordable it is, the more demand there will be.
🔄 Click to see term
Term1/11
Keynes emphasized that income was determined by which of these
🔄 Click to see definition
Definition1/11
consumption, investment, and government spending
🔄 Click to see term
Term1/11
This type of economics addresses the question what is
🔄 Click to see definition
Definition1/11
Pure economics addresses this question.
🔄 Click to see term
Term1/11
In which direction does the demand curve on a graph slant
🔄 Click to see definition
Definition1/11
Downward left to right
🔄 Click to see term
Term1/11
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
🔄 Click to see definition
Definition1/11
Agriculture
🔄 Click to see term
Term1/11
Which of these should happen in order for a country to increase capital effectively
🔄 Click to see definition
Definition1/11
More money invested and/or saved.
🔄 Click to see term
Term1/11
On a graph what are the labels for the axes and the name called
🔄 Click to see definition
Definition1/11
titles
🔄 Click to see term
Term1/11
The interaction of the producer and the consumer establishes a price
🔄 Click to see definition
Definition1/11
True.
🔄 Click to see term
Term1/11
If supply exceeds demand for a product what economic explanation occurs
🔄 Click to see definition
Definition1/11
prices decrease
🔄 Click to see term
Term1/11
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
🔄 Click to see definition
Definition1/11
Treasury
🔄 Click to see term
Term1/11
Which of these described they economic view of the Chicago school of economists
🔄 Click to see definition
Definition1/11
microeconomic
🔄 Click to see term
🥳
Great job!
You studied all the cards in this guide.
Rate this guide:
☆★☆★☆★☆★☆★
Start overPrint
Full screen
Rate this Study Guide:
☆★☆★☆★☆★☆★
Cards in this guide (11)
What is the amount of a good or service that a consumer is willing to buy called
Demand is considered what consumers are willing and able to buy.
If the product or service is too expensive, then people won't buy
it because they can't afford it and there will be no demand. If
it's affordable but people don't see the use, they still won't buy
it and there will still be no demand. In order to create demand, a
product has to be both useful and affordable. The more useful and
affordable it is, the more demand there will be.
Keynes emphasized that income was determined by which of these
consumption, investment, and government spending
This type of economics addresses the question what is
Pure economics addresses this question.
In which direction does the demand curve on a graph slant
Downward left to right
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
Agriculture
Which of these should happen in order for a country to increase capital effectively
More money invested and/or saved.
On a graph what are the labels for the axes and the name called
titles
The interaction of the producer and the consumer establishes a price
True.
If supply exceeds demand for a product what economic explanation occurs
prices decrease
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Treasury
Which of these described they economic view of the Chicago school of economists