Term
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Definition
| An upper limit on the quantity of some good that can be bought or sold. |
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Term
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Definition
| Gives its owner the right to supply a good or service. |
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Term
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Definition
| The price at which consumers will demand a given quantity. |
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Term
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Definition
| The price at which producers will supply a given quantity. |
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Term
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Definition
| The amount between the demand price of the quantity transacted and the supply price of the quantity transacted, |
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Term
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Definition
| The lost gains associated with transactions that do not occur due to market intervention. |
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