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| a stock of a resource from which a person or place can be provided with the necessary amount of that resource |
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| the desire of purchasers, consumers, clients, employers, etc., for a particular commodity, service, or other item |
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| a situation in which supply and demand are matched and prices stable |
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| a minimum price for something |
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| a maximum price for something |
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| sensitive to changes in price or income |
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| insensitive to changes in price or income |
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| a loss or lack of equilibrium or stability, especially in relation to supply, demand, and prices |
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| as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases |
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| an increase in price results in an increase in quantity supplied, quantities respond in the same direction as price changes |
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| goods that are more or less interchangeable to the consumer, so that an increase in the price of one increases demand for the other |
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| two goods that are typically used at the same time, e.g. cars and gasoline, so that a change in demand for one has a direct effect on the other |
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| a state or situation in which something needed cannot be obtained in sufficient amounts |
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| an amount of something left over when requirements have been met; an excess of production or supply over demand |
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| Examples can be found in economics where an individual's reduction in spending reduces the incomes of others and their ability to spend. |
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| the activity or condition of competing |
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