CHAPTER DEMAND SUPPLY AND PRICES Key Concept Equilibrium ( Floor Price Example #9)
CHAPTERchap•ter (chap′tər),USA pronunciation n.
- a main division of a book, treatise, or the like, usually bearing a number or title.
- a branch, usually restricted to a given locality, of a society, organization, fraternity, etc.: the Connecticut chapter of the American Red Cross.
- an important portion or division of anything: The atomic bomb opened a new chapter in history.
- an assembly of the monks in a monastery, of those in a province, or of the entire order.
- a general assembly of the canons of a church.
- a meeting of the elected representatives of the provinces or houses of a religious community.
- the body of such canons or representatives collectively.
- any general assembly.
- [Liturgy.]a short scriptural quotation read at various parts of the office, as after the last psalm in the service of lauds, prime, tierce, etc.
- [Horol.]any of the marks or numerals designating the hours on a dial.
- to divide into or arrange in chapters.
SUPPLYsup•ply1 (sə plī′),USA pronunciation v., -plied, -ply•ing, n., pl. -plies.
- to furnish or provide (a person, establishment, place, etc.) with what is lacking or requisite: to supply someone clothing; to supply a community with electricity.
- to furnish or provide (something wanting or requisite): to supply electricity to a community.
- to make up, compensate for, or satisfy (a deficiency, loss, need, etc.): The TVA supplied the need for cheap electricity.
- to fill or occupy as a substitute, as a vacancy, a pulpit, etc.: During the summer local clergymen will supply the pulpit.
- to fill the place of another, esp. the pulpit of a church, temporarily or as a substitute: Who will supply until the new minister arrives?
- the act of supplying, furnishing, providing, satisfying, etc.: to begin the supply of household help.
- something that is supplied: The storm cut off our water supply.
- a quantity of something on hand or available, as for use;
a stock or store: Did you see our new supply of shirts?
- Usually, supplies. a provision, stock, or store of food or other things necessary for maintenance: to lay in supplies for the winter.
- [Econ.]the quantity of a commodity that is in the market and available for purchase or that is available for purchase at a particular price.
- all items necessary for the equipment, maintenance, and operation of a military command, including food, clothing, arms, ammunition, fuel, materials, and machinery.
- procurement, distribution, maintenance, and salvage of supplies.
- a person who fills a vacancy or takes the place of another, esp. temporarily.
- supplies. [Obs.]reinforcements.
ANDand (and; unstressed ənd, ən, or, esp. after a homorganic consonant, n),USA pronunciation conj.
- (used to connect grammatically coordinate words, phrases, or clauses) along or together with;
as well as;
in addition to;
moreover: pens and pencils.
- added to;
plus: 2 and 2 are 4.
- then: He read for an hour and went to bed.
- also, at the same time: to sleep and dream.
- then again;
repeatedly: He coughed and coughed.
- (used to imply different qualities in things having the same name): There are bargains and bargains, so watch out.
- (used to introduce a sentence, implying continuation) also;
then: And then it happened.
- [Informal.]to (used between two finite verbs): Try and do it. Call and see if she's home yet.
- (used to introduce a consequence or conditional result): He felt sick and decided to lie down for a while. Say one more word about it and I'll scream.
on the contrary: He tried to run five miles and couldn't. They said they were about to leave and then stayed for two more hours.
- (used to connect alternatives): He felt that he was being forced to choose between his career and his family.
- (used to introduce a comment on the preceding clause): They don't like each other--and with good reason.
- [Archaic.]if: and you please.Cf. an2.
- and so forth, and the like;
et cetera: We discussed traveling, sightseeing, and so forth.
- and so on, and more things or others of a similar kind;
and the like: It was a summer filled with parties, picnics, and so on.
- an added condition, stipulation, detail, or particular: He accepted the job, no ands or buts about it.
- conjunction (def. 5b).
PRICESprice (prīs),USA pronunciation n., v., priced, pric•ing.
- the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
- a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
- the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, esp. in cases involving sacrifice of integrity: They claimed that every politician has a price.
- that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
- odds (def. 2).
- [Archaic.]value or worth.
- [Archaic.]great value or worth (usually prec. by of ).
- at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
- beyond or without price, of incalculable value;
priceless: The crown jewels are beyond price.
- to fix the price of.
- to ask or determine the price of: We spent the day pricing furniture at various stores.
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