Law of Supply*
O A: The amount of money exchanged for a good or service
O
B. As ones income rises they tend to spend more on normal goods and less on
inferior goods
C. Non-response to a change in price/supply
OD. A price control limit that can create excess supply
E. The desire, willingness, and ability to buy a good or service
OF. Anything that can be measured or counted
OG. The theory-producers produce more of something at a higher price.
OH. A price control limit that can create shortage
1. Increase in demand for one product because of a decrease in demand for another.
OJ. When supply and Demand are in sync