deficit: excess of expenses over expected income.
deflation: opposite of inflation. Decrease in the general
price of consumer goods and services. A period during
which the purchasing power of the dollar is rising.
demand: a consumer's willingness and ability to buy a
product or service at a particular time and place;
elastic demand - condition that exists when a small
increase in a good's price causes a major decrease in the
quantity demanded; inelastic demand - condition that
exists when a change in a good's price has little impact on
the quantity demanded.
demand curve: the graphic representation of demand.
demand deposit: checking accounts held by
commercial banks; largest component of the money supply.
So named because you can demand your money - or write a
check -without clearing it with the bank first.
