Search Council for Economic Education's full glossary for terms and definitions

Q

Examining products to learn whether one is better than others.

The amount of a good or service people will buy at a given price in a given period of time.

The amount of a good or service sellers are willing and able to offer at a given price in a given period of time.

In international trade, the limit on the quantity of a product that may be imported or exported, established by government laws or regulations; in command economies, more typically a production target assigned by government planning agencies to the producers of a good or service.