A | B |
Things used in production that are man-made. | capital |
Whre supply and demand curves intersect. | equilbrium |
An item used to produce a product or service. | resource |
Additional cost of each unit of output. | marginal cost |
When one price is lowered, more of the product is purchased. | law of demand |
One enterprise provides inputs for another. | complementary |
Everything in nature used in production. | land |
One enterprise provides inputs for another. | complementary |
When price is lowered, less of the product is supplied. | law of supply |
Two enterprises are independent, but one provides income to the other. | supplementary |
Where to supply and demand curves intersect. | equilibrium |
The additional cost of each input. | marginal cost |
The additional return resulting from each unit of input. | marginal return |
An enterprise that competes with another. | competitive en |