_____________ defined as a state of balance between different forces ,such that there is no tendancy to change .

When quantity demanded is equal to quantity supplied there is

A leftward shift is called a

A rightward shift of the curve is called an

A ___________ lowers cost of production.

At the point of competitive market equilibrium , the sum of consumer and producer surplus is

Demand definition is complete when we have data on :

A vertical Supply curve ,as price increases the quantity supplied

A shift of a demand curve,caused by a change in a determinant of demand is called a

__________ is defined as the highest price consumers are willing to pay for a good minus the price actually paid .