AP Micro

Competitive market, p. 49

Quantity demanded, p. 50

Demand curve, p. 51

Law of demand, p. 51

Change in demand, p. 52 Movement along the demand curve, p. 52

Substitutes, p. 54

Complements, p. 54

Normal good, p. 55

Inferior good, p. 55

Individual demand curve, p. 56 Quantity supplied, p. 60 Supply schedule, p. 60

Supply curve, p. 60

Law of supply, p. 61

Change in supply, p. 61

Input, p. 63

Market-clearing price, p. 70

Equilibrium quantity, p. 70

Surplus, p. 71

Shortage, p. 71

Price controls, p. 80

Price ceiling, p. 80

Price floor, p. 80

Inefficient allocation to consumers, p. 83

Wasted resources, p. 83

Inefficiently high quality, p. 88

Demand price, p. 93

Supply price, p. 94

Deadweight loss, p. 96