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Homework answers / question archive / The point where supply and demand for a product are equal
The point where supply and demand for a product are equal .
The study of relationships between individual consumers and producers.
Some goods and services are provided b the government and some by private enterprise .
Many firms competing with products that are somewhat different .
A type of market in which one supplier offers a unique product.
A few businesses offer very similar products or services .
Independent decisions by businesses and consumers with only a limited government role regulating those relationships .
The use of resources to obtain the greatest profit .
A large number of suppliers offer very similar products.
The resources and decisions are shared between the government and other groups and individuals .
The result of unlimited wants and needs, combined with limited resources.
A relationship between the quantity of a product that product that products are willing and able to provide and the price.
The graph of the relationship between price and quantity supplied.
A decision to use resources toward the greatest satisfaction of wants and needs.
