1. typically slopes downward 2. measurement of how sensitive producers are to a change
in price
3. point where Qd = Os
4. a chart of demand
5. will shift the supply curve to the right
6. represents a point on the supply curve
7. market situation where Os > Qd
8. amount of goods/services producers are willing and able
to provide at various prices during a given period of time
9. situation where a change in price will result in a SMALLER
change in the quantity supplied
10. will shift the demand curve to the left
11. term which describes the relationship between price and
quantity demanded
12. a chart of supply
13. measurement of sensitive consumers are to a change in
price
14. represents a point on the demand curve
15. amount of goods/services consumers are willing and able
to purchase at various prices during a given period of time
16. market situation where Qd > Os
17. a situation where a change in price will lead to a BIGGER
change in the quantity demanded
18. points where Qd and Qs are not equal
19. typically slopes upward
20. term which describes the relationship between price and
quantity supplied