| A | B |
|---|
| Demand Curve | Relationship between price and quantity demanded is often illustrated in a graph. |
| Economic Resources | Natural resources, capital equipment, and labor .. |
| Microeconomics | Studies of relationships between individual consumers and producers. |
| Macroeconomics | Studies the economic behavior and relationships for the entire society. |
| Supply | The quantity of a product that producers are willing and able to provide at a specific price. |
| Demand | The quantity of a product consumers are willing and able to purchase at a specific price. |
| Scarcity | Unlimited wants and needs combined with limited resources. |
| Market Price | The point where supply and demand for a product are equal. |
