how do you know....that you know? ....see Webnote 94 in Study Skills!
Unit 2: Microeconomics
Online Activities:
1.1 - Competitive Markets

1.     Market

2.     Price mechanism

3.     price (signal and incentive function)

4.     consumer demand

5.     market demand

6.     firm supply

7.     market supply

8.     clearing price/equilibrium

9.     demand function

10.  law of demand

11.  supply function

12.  law of supply

13.  ceteris paribus

14.  movement in demand

15.  movement in supply

16.  price control

17.  productive efficiency

18.  shift in demand

19.  shift in supply

20.  subsidy

21.  normal goods

22.  inferior goods

23.  substitute goods

24.  complementary goods

25.  producer surplus

26.  consumer surplus

27.  community/social surplus

28.  Allocative efficiency (marginal benefit = marginal cost)

Phrases from syllabus:

1.     Price (signal and incentive function) 
Demand: Mjm Foodie
Demand Shift: Mjm Foodie
Supply: Mjm Foodie
Welker: Shift + Movement in Demand
Welker: b and d variables in Demand + Supply Equations
Welker: Law of Demand
Welker: Supply Shift + Movement
 Equilibrium: MjM Foodie
Welker: Supply Linear Equations
Circular Flow: Tutor2You
PAJ: The Price Mechanism
Welker: Calculating Demand for HP 3
Adam Smith- 'invisible hand'.
105- word version