Supply and Demand Vocab Whole Unit Flashcard

Supply and Demand Vocab Whole Unit Flashcard

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Katherine R Fowler

FREE Resource

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21 questions

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1.

FLASHCARD QUESTION

Front

Cost that does not change regardless of how much of a good is produced.

Back

Fixed Costs

2.

FLASHCARD QUESTION

Front

The economic law that states that consumers will buy more of a good when the price decreases.

Back

Law of Demand

3.

FLASHCARD QUESTION

Front

A government payment that supports a business or market.

Back

Subsidy

4.

FLASHCARD QUESTION

Front

The additional income from selling one more unit of a good

Back

Marginal Revenue

5.

FLASHCARD QUESTION

Front

Goods used in place of one another.

Back

Substitutes

6.

FLASHCARD QUESTION

Front

Total amount of money the company receives from selling its goods or services.

Back

Total Revenue

7.

FLASHCARD QUESTION

Front

The cost of producing one more unit of a good

Back

Marginal cost (MC)

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