What is the relative price of one pound of yellow squash @ 40 cents per pound to a pound of butternut squash @ $1.20 per pound?

Consumers, producers, and resource owners need ___ concerning price in order to make important economic decisions.

In a free-enterprise economy, the incentives which keep producers constantly changing and reallocating their resources are known as

Demand interacts with supply to determine

As prices increase, the quantity demanded will generally

As prices increase, the quantity supplied will generally

As the quantity of supply decreases, the price will generally

As the quantity demanded decreases, the price will generally

The point at which the quantity of a good that buyers want to buy is the same as the quantity that sellers are willing to sell is referred to as ___ price.

When producers produce more than buyers are willing and able to buy, ___ exists.

When buyers are willing and able to buy more than has been produced, ___ excess exists.

Any price above the equilibrium price will result in

Which of the following is an example of equilibrium price:

The actual price that prevails in a market at any particular moment is known as ___ price.

There is ample evidence that a higher price still indicates better:

Self-image is the way

When a customer buys at the lowest possible price, they are buying for a(s) ___ reason.

Some customers will not buy an item if it falls below a certain level because it fails to give them enough

Many businesspeople feel that the number ___ has a magical effect on customers.

Even pricing is used to suggest

A frequently purchased item that is priced close to cost to attract customers is called