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Definition
| a person who owns and operates a business and is good at making money. |
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Definition
| A change in the price of one good can change the demand for another good.
Example: if Ice cream became very expensive and no one would buy it, than Ice cream cones would become very cheap. |
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Definition
| The amount of a product or service that people are ready to buy for a given price: Supply should rise to meet demand. |
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Definition
| The state in which market supply and demand balance each other. |
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Definition
| The opportunity to buy or sell. |
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Definition
| The amount of money or goods, asked for or given in exchange for something else. |
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Definition
| The total amount of a goods or services available for purchase by consumers. |
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Definition
| A condition that exists when demand exceeds supply. |
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Term
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Definition
| Exchanging goods or services instead of money. |
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Term
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Definition
| The study of the way money, goods, and services are made and used in a society; the study of wealth. |
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