| A | B |
|---|
| demand | the quantity of a good or service that consumers are willing and able to buy at various prices. |
| Law of Demand | consumers will tend to buy more as the price of a good or service decreases. |
| supply | the quantity of a good or service that producers are willing and able to produce at different prices. |
| Law of Supply | producers will be willing to produce more as the price of a good or services |
| equilibrium | the point where price meets quantity. |
| complementary goods | goods that are used together. |
| substitute goods | goods that take the place of another. |
| market | a place where goods and services are bought and sold. |
| disequilibrium | the imbalance between supply and demand. |
