| A | B |
|---|
| Microeconomics | the part of economics that deals with behavior and decision making by small units, such as individual & firms |
| Macroeconomics | the part of economics that deals with the economy as a whole |
| Demand | having the desire, ability and willingness to buy an item |
| Supply | the quantity of a good that are offered for sale at a particular price |
| Demand Schedule | a listing that shows the quantity demanded at all prices that might prevail in the market at a given time |
| Supply Schedule | a schedule of quantities that would be offered for sale at all possible prices that could prevail in the market |
| Demand Curve | a graph charting data from a demand schedule |
| Supply Curve | slopes upward and to the right to reflect the tendency of suppliers to offer greater quantities for sale at higher prices |
