Question

match the following
demand price is higher than market price usually set by the government.
elasticity the total of all goods and services available for purchase in an economy.
price ceiling the total of goods and services wanted by consumers.
price floor the total of all goods and services sought by consumers for purchase.
quantity demanded the measurement of how demand changes in relation to price.
quantity supplied price is lower than the market price.
supply the total of goods and services available for purchase.
submit

Explanation:

• Demand: The total of goods and services wanted by consumers.
• Elasticity: The measurement of how demand changes in relation to price.
• Price ceiling: Price is lower than the market price (set by government to limit max price).
• Price floor: Price is higher than market price (set by government to limit min price).
• Quantity demanded: The total of all goods and services sought by consumers for purchase.
• Quantity supplied: The total of goods and services available for purchase.
• Supply: The total of all goods and services available for purchase in an economy.

Answer:

• Demand: The total of goods and services wanted by consumers.
• Elasticity: The measurement of how demand changes in relation to price.
• Price ceiling: Price is lower than the market price.
• Price floor: Price is higher than market price usually set by the government.
• Quantity demanded: The total of all goods and services sought by consumers for purchase.
• Quantity supplied: The total of goods and services available for purchase.
• Supply: The total of all goods and services available for purchase in an economy.