Mini Society Vocab.

The quantities of a good or service that buyers are willing and able to purchase

• Demand
• Demand Schedule
• Demand Curve
• Profit or loss

Having too much of a product.

• Barter
• Monopoly
• Surplus
• Scarcity

Way in which an entrepreneur determines a price for a product.

• Demand Schedule
• Market Survey
• Monopoly
• Demand Curve

Used in a market survey to help the entrepreneur price a product.

• Demand
• Demand Curve
• Demand Schedule
• Market survey

When there is only one seller of a product or service.

• Surplus
• Monopoly
• Demand
• Scarcity

An individual who determines a need for a product in the marketplace.

• Barter
• Entrepreneur
• Consumer
• Demand

The graph from your demand schedule that helps you determine the best price for your product.

• Demand
• Demand schedule
• Demand curve
• Profit or loss

Exchange of good and services without the use of money

• Barter
• Consumer
• Product
• Scarcity

Different ways in which to market your product to help sell it.

• Job Interview
• currency
• Product
• Advertising

Amount of money made or lost when selling a product

• Market survey
• Consumer
• Profit and loss
• Demand