Title: Unit Test Review 2 Flashcards | Quizlet
Headings: Unit Test Review 2
Unit Test Review 2
Terms in this set (15)

Content: Excess supply is created when price or move away from the equilibrium point. quantity
Why is pure competition considered an unsustainable system? Producers cannot make a profit if they keep dropping their prices. The highest amount a landlord can charge for rent is an example of
a price ceiling. Marginal shows how much money can be made if a producer sells one additional unit of a good. revenue
When prices drop below the point where supply and demand meet, it results in
disequilibrium. The chart shows a production possibilities schedule for Sabrina's Soccer. The schedule shows the of goods the business can produce. combonation
Look at the chart comparing the price of graphic T-shirts to the quantity supplied. This chart is an example of a
supply schedule.