Introduction to Price Theory
Flashcard
•
Business
•
9th Grade
•
Practice Problem
•
Hard
Koketso Ruth Molatlhwa
Used 1+ times
FREE Resource
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10 questions
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1.
FLASHCARD QUESTION
Front
Price Theory
Back
Study of how prices are determined
2.
FLASHCARD QUESTION
Front
Demand
Back
Consumer desire for goods/services
3.
FLASHCARD QUESTION
Front
Supply
Back
Producer offering of goods/services
4.
FLASHCARD QUESTION
Front
Equilibrium Price
Back
Where demand equals supply
5.
FLASHCARD QUESTION
Front
Elasticity
Back
Measure of responsiveness to price change
6.
FLASHCARD QUESTION
Front
Market Structure
Back
Organization of a market
7.
FLASHCARD QUESTION
Front
Perfect Competition
Back
Many buyers and sellers, identical products
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