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If the price of gasoline rises sharply and the demand for sports utility vehicles falls, then the two goods are
Reversible Reaction
A chemical reaction that can proceed in both directions, where products can revert to the original reactants under certain conditions.
Product Formation
The creation of end products in a chemical reaction, often catalyzed by enzymes in biological systems.
Reactant Formation
The process in a chemical reaction where substances (reactants) combine or change to produce new substances (products).
Equilibrium
A state of physical balance or stability, or the condition in which all competing influences are balanced in a chemical reaction or in a market.
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