| A | B |
|---|
| type of demand in which consumers keep buying a good despite a price increase | inelastic |
| amount of money a company receives by selling its goods | total revenue |
| lists the quantities of a good demanded by all consumers at each price that may be offered in the market | market demand schedule |
| type of good whose demand increases when income increases | normal |
| the way that consumers respond to price changes | elasticity of demand |
| type of demand in which consumers buy much less of a good after a small price increase | elastic |
| two goods that are bought and used together | complements |
| “all other things held constant” | ceteris paribus |
| when consumers react to a price rise of one good by consuming less of that good and more of another good in its place | substitution effect |
| type of good whose demand falls when income increases | inferior |
| lists the quantities of a good demanded by a personat each price that may be offered in the market | demand schedule |
| graphically represents the quantities of a good demanded at each price that may be offered in the market | demand curve |
