| A | B |
|---|
| shortage | when quantity demanded is more than quantity supplied |
| disequilibrium | the market’s first response to a decrease in supply |
| search costs | the costs consumers pay in looking for a good or service |
| equilibrium point | the point at which the demand for a product or service is equal to the supply of that product or service |
| inventory | the quantity of goods a company has on hand |
| surplus | when quantity supplied is more than quantity demanded |
| fad | a product that reflects the impact of advertising on consumer behavior |
