Download Macro Chapter 3 Vocab

Survey
yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts
no text concepts found
Transcript 
Chapter 3 Vocab
• Demand
• law of demand
• Law of diminishing
marginal utility
• income effect
• substitution effect
• determinants of demand
• normal goods
• inferior goods
• substitute good
• complementary good
• change in demand
• change in quantity
demanded
•
•
•
•
•
•
•
•
•
•
•
•
Supply
law of supply
determinants of supply
change in supply
change in quantity
supplied
equilibrium price
equilibrium quantity
surplus
shortage
price ceiling
price floor
Say’s Law
Related documents