Mini Society Vocab.

Front

Quantities of a good/service buyers are willing to purchase

Back

Demand

Front

Too much of a product.

Back

Surplus

Front

How does an entrepreneur set product pricing?

Back

Market Survey

Front

Used in market surveys to help price a product.

Back

Demand Schedule

Front

One seller of a product or service.

Back

Monopoly

Front

Determines need for a product in the marketplace.

Back

Entrepreneur

Front

Graph from demand schedule to find best product price.

Back

Demand curve

Front

Exchange of goods/services without money

Back

Barter

Front

Ways to market a product:

Back

Advertising

Front

Money made or lost when selling a product

Back

Profit and loss