Fianancial Glossary - Coropcean Svetlana

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Barter – is a system of exchange in which goods or services are traded directly for other goods and/or services – without using money. Monopoly – is a market (or industry) with only one seller. Supply – of a particular product is the quantity of the product that producers are willing to sell at each of various prices Demand – is the quantity that buyers are willing to purchase at each of various prices. Demand is thus a relationship between prices and the quantities purchased by buyers. Market price – is the price at which the quantity demanded is exactly equal to the quantity supplied Monopolistic competition – is a market sitation in which there are many buyers along with relatively many sellers who differentiate their products from the products of competitors. Oligopoly – is a market situation (or industry) in which there are few sellers. Economics – is the study of how wealth is created and distributed ...