In the ______________, households receive goods and services and pay firms for them

In the ____________, households work and receive payment from firms.

_________ is the synchronized movement of goods through the channel.

If demand is inelastic, the tax burden falls primarily on the _____ and deadweight loss is _____.

At the highest price, you would expect the demand for goods and services to be the _____.

According to the law of demand, a change in _______ causes a movement along the demand curve.

Sunk costs can’t be _____.

A period too brief for some production inputs to be varied is known as

______ is the difference between total revenues and total costs

_____ function is The relationship between the quantity of inputs and outputs produced

Marginal product is The change in total output of a good that results from a ______ change