| A | B |
|---|
| supply curve | Graphic example of the amount of a product that is supplied. |
| equilibrium price | Price at which the quantity supplied equals the quantity demanded. |
| resource scarcity | States that the inputs needed to make products are not available in unlimited supply. |
| agribusiness | Includes all of the activities performed in the three broad categories of the food and fiber system. |
| microeconomics | The study of individual economic choices. |
| macroeconomics | The study of the economy as a whole. |
| price | Value or worth placed upon an item. |
| ag economics | Deals with allocating scarce resources among different and competing choices and utilizing them to the best satisfy wants. |
