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CHAPTER DEMAND SUPPLY AND PRICES Key Concept Equilibrium ( Floor Price Example #9)

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CHAPTER DEMAND SUPPLY AND PRICES Key Concept Equilibrium ( Floor Price Example #9)

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CHAPTER

chap•ter (chaptər),USA pronunciation n. 
  1. a main division of a book, treatise, or the like, usually bearing a number or title.
  2. a branch, usually restricted to a given locality, of a society, organization, fraternity, etc.: the Connecticut chapter of the American Red Cross.
  3. an important portion or division of anything: The atomic bomb opened a new chapter in history.
  4. [Eccles.]
    • 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.
  5. any general assembly.
  6. [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.
  7. [Horol.]any of the marks or numerals designating the hours on a dial.

v.t. 
  1. to divide into or arrange in chapters.
chapter•al, adj. 

SUPPLY

sup•ply1  (sə plī),USA pronunciation v.,  -plied, -ply•ing, n., pl.  -plies. 
v.t. 
  1. 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.
  2. to furnish or provide (something wanting or requisite): to supply electricity to a community.
  3. to make up, compensate for, or satisfy (a deficiency, loss, need, etc.): The TVA supplied the need for cheap electricity.
  4. to fill or occupy as a substitute, as a vacancy, a pulpit, etc.: During the summer local clergymen will supply the pulpit.

v.i. 
  1. 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?

n. 
  1. the act of supplying, furnishing, providing, satisfying, etc.: to begin the supply of household help.
  2. something that is supplied: The storm cut off our water supply.
  3. a quantity of something on hand or available, as for use;
    a stock or store: Did you see our new supply of shirts?
  4. Usually,  supplies. a provision, stock, or store of food or other things necessary for maintenance: to lay in supplies for the winter.
  5. [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.
  6. supplies: 
    • 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.
  7. a person who fills a vacancy or takes the place of another, esp. temporarily.
  8. supplies. [Obs.]reinforcements.
  9. [Obs.]aid.
sup•plier, n. 

AND

and (and; unstressed ənd, ən, or, esp. after a homorganic consonant, n),USA pronunciation  conj. 
  1. (used to connect grammatically coordinate words, phrases, or clauses) along or together with;
    as well as;
    in addition to;
    besides;
    also;
    moreover: pens and pencils.
  2. added to;
    plus: 2 and 2 are 4.
  3. then: He read for an hour and went to bed.
  4. also, at the same time: to sleep and dream.
  5. then again;
    repeatedly: He coughed and coughed.
  6. (used to imply different qualities in things having the same name): There are bargains and bargains, so watch out.
  7. (used to introduce a sentence, implying continuation) also;
    then: And then it happened.
  8. [Informal.]to (used between two finite verbs): Try and do it. Call and see if she's home yet.
  9. (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.
  10. but;
    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.
  11. (used to connect alternatives): He felt that he was being forced to choose between his career and his family.
  12. (used to introduce a comment on the preceding clause): They don't like each other--and with good reason.
  13. [Archaic.]if: and you please.Cf. an2.
  14. and so forth, and the like;
    and others;
    et cetera: We discussed traveling, sightseeing, and so forth.
  15. 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.

n. 
  1. an added condition, stipulation, detail, or particular: He accepted the job, no ands or buts about it.
  2. conjunction (def. 5b).

PRICES

price (prīs),USA pronunciation n., v.,  priced, pric•ing. 
n. 
  1. the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
  2. a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
  3. 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.
  4. that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
  5. odds (def. 2).
  6. [Archaic.]value or worth.
  7. [Archaic.]great value or worth (usually prec. by of ).
  8. at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
  9. beyond or  without price, of incalculable value;
    priceless: The crown jewels are beyond price.

v.t. 
  1. to fix the price of.
  2. to ask or determine the price of: We spent the day pricing furniture at various stores.
pricea•ble, adj. 

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