Table 4.3The table below shows the quantity supplied and the quantity demanded of a good at different prices. If the market price of the good is $1.20, there will be a _____.

Which of the following have their profits taxed twice?

Economists assume that the objective of households is to _____

According to the law of supply, the quantity supplied is _____ related to price, other things constant.

A quota is _____

A system which is characterized by the private ownership of resources and the use of prices to coordinate economic activity in unregulated markets is known as a _____

A product that is produced in China and sold in the United States is called a(n) _____

If we say that the demand for a good has increased, we mean there has been _____

Owners of corporations are referred to most frequently as ______

The _____ for a product indicate(s) the quantity of the product consumers are both willing and able to buy at each price during a given time period, other things constant.