Mr. Biggar's Classes

Chapter 5 Vocab Terms

1. Supply إمدادات : the amount of a product for sale
2. Law of supply: suppliers will offer more products for sale at higher prices than at lower prices
3. Supply schedule: a table that lists the numbers of a product supplied at various prices
4. Supply curve: a graph that shows data for a single producer in a market
5. Market supply curve: shows quantities offered by ALL producers that sell the same product in a market
6. Interaction تفاعل: dealing or working with
7. Change in supply: when suppliers offer different amounts of products for sale at market prices
8. Suppliers مورد: those who make (produce) products for sale
9. Subsidy المدفوعات الحكومية: A payment by the government to encourage or protect economics
10. Regulations أنظمه: rules
11. Supply elasticity: a measure of how the quantity supplied responds to a change in price
12. Purchases مشتريات: things bought
13. Adjust ضبط: to make better, fix

Just a reminder that we have a BIG test in Econ this coming Monday, April 16!

To help yourself prepare for it, study your vocab from the chapter, GRN notes, and especially your Ch. 4 Study Guide.  Email me with any concerns at biggars@dearbornschools.org and I will do my best to answer your questions.  Good Luck!!

Chapter 4.3 Vocab…last ones this chapter!

23. elastic: when a change in price causes a much larger change in quantity demanded
24. inelastic: when a change in price causes a small change in quantity demanded
25. unit elastic: when the % change in quantity demanded = the % change in price
26. technical مفيد: useful
27. revenue المال الحقيقي: total income from a given source or product
28. expenditures: things you pay for
29. inverse عكس: opposite; the other way
30. delayed تاخر: pushed back in time
31. hardship مشكله: a problem
32. adequate كافي: so-so, alright (a grade of C)

13. income effect: a change in quantity demanded when the consumers income changes
14. conversely مقابل: in exchange
15. substitutes بدائل: competing products that can be used in place of each other
16. change in demand: a shift of the whole demand curve to right or left
17. determinants: causes/shifters
18. consumer tastes الآراء: what buyers want, in demand
19. related مماثل: similar, alike
20. expectations توقعات: what should happen, predictions
21. refund إعادة مال: money returned
22. complements تكملة: products that affect each other in prices and demand

Econ Chapter 4 Vocab (Demand)

1. Microeconomics: the study of small units of factors of an economy
2. Demand اقتصاديات الطلب: wanting to buy a product
3. Demand schedule جدول الطلب: a table economists study demand
4. Quantity كمية: the amount of something
5. Demand curve: shows the quantity of a product at possible prices
6. Data البيانات: facts and numbers used to study something
7. Law of Demand: says consumers will buy more of a product at a lower price and less of a product at a higher price.
8. sum مجموع: total (like addition in math)
9. utility خدمة: being useful or making profit
10. satisfaction رضا: happy with something
11. marginal utility رضا إضافي: extra satisfaction from having 1 or more of the same product
12. diminish تخفيض: decrease, less