Demand And Supply

Question 1

The quantity of a good or service that consumers are both willing and able to buy at various prices

Answer 1

Demand

Question 2

And economic law stating that as the price of a good or service increases, the quantity demand it decreases, and vice versa

Answer 2

Law of demand

Question 3

A product that satisfies same basic want as another product

Answer 3

Substitute good

Question 4

A product that is used or consumed jointly with another product

Answer 4

Complementary good

Question 5

The quantity of a good or service that producers are willing and able to offer for sale at various prices

Answer 5

Supply

Question 6

And economic law stating that as the price of a good or service increases, the quantity supplied increases, and vice versa

Answer 6

Law of supply

Question 7

The amount of money a pharmacy in the course of doing business

Answer 7

Revenue

Question 8

They measure of the degree to which the quantity demanded or supplied of a good or service changes and in response to a change in price

Answer 8

Elasticity