Economiccs

the diminishing of the value of goods

goods that are expected to last at least 3 years

goods that have a life expectancy of less than 3 years

value that is directly related to the benefits their owners recieve through their use

what a particular good is worth in exchange for another good

as one 's supply of a specific good or service increases, the satisfaction derived from each additional unit tends to decrease

The relationship between a good's price and the amount that people are willing to buy

"other things remaining equal, as the price of a good increases, the quantity demanded decreases in a free market economy"

a graphic representation of the amount of goods purchased at different prices.

a list of numbers that compares price with quantity demanded

a good whose demand in directly related to the consumer's income.

a list of numbers that compares price with quantity supplied

the relationship between a good's price and the amount that producers are willing to supply

a system in which the owner of much of the nation's capitol is a powerful centralized

an economic system that provides barely enough to keep a society alive

anyone who owns producer goods or owns a share of some business that produces goods