Supply and Demand Vocabulary

What is supply?

• How much of something is available for sale

• Things you need for school

• The amount something costs

• Wherever goods and services are offered for sale

_ is how much of an item people are willing and able to buy.

Money spent that does not change as more of an item is produced. For example, the cost to heat a bicycle factory does not increase as more bicycles are made. The heating cost is fixed or doesn't change.

• Variable Cost

• Revenue

• Fixed Cost

• Fixed Profit

Wherever goods and services are offered for sale

• Grocery Store

• Shopping Mall

• Online

• Marketplace

The variable cost is . . .

• how much of anything is available for sale

• The money spent that changes, or increases, as more of the item is produced

• The money spent that does not change as more of an item is produced

• money received from selling goods and services

There is a ___ whenever the money received from the sale of items is more than the total cost of producing and selling them. The difference between the money received and the costs is the ___.

The total money received from selling goods and services is the ___.