Economics Vocab Test #5

Front

This picture is an example of what?

Back

Demand Schedule

Front

Branch of economic theory dealing with individual & small business behavior.

Back

Microeconomics

Front

Demand curve showing quantities demanded by all at various prices.

Back

Market Demand Curve

Front

RAPID, excessive price increase in an economy

Back

HyperInflation

Front

Point where total cost equals total revenue, no loss or gain.

Back

Break-even point

Front

Movement along the demand curve due to price change

Back

Change in quantity demanded

Front

Electronic business or market conducted online.

Back

E-Commerce

Front

Change in quantity demanded due to income change when product price changes

Back

Income effect

Front

Change in quantity demanded due to a substitute's price change

Back

Substitution effect

Front

Different amounts of a product are demanded at every price, causing the demand curve to shift.

Back

Change in Demand