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Social networking websites, such as Facebook and MySpace, have become extremely prevalent among teenagers (as well as adults). Describe how online friendships affect in-person relationships. In your opinion, do you think having a personal website, such as a profile on of these websites, places an adolescent at risk of being contacted by a sexual predator? If you were a parent of a teenager, would you allow your son or daughter to have a profile?
Equilibrium Quantity
The quantity of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.
Demand Equation
A mathematical representation of the relationship between the quantity of a good demanded and various factors affecting it such as price, income, and the price of related goods.
Downsloping Demand
A concept in economics that describes the inverse relationship between the price of a good and the quantity demanded, typically illustrated by a downward-sloping demand curve.
Upsloping Supply
A supply curve that shows an increase in the quantity supplied as the price increases, typical of most goods.
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