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