IDENTIFICATION. 1. A social science concerned with man's problems of issuing scarce resources to satisfy unlimited wants. 2. Refers to the willingness of a consumer to buy a commodity at a given price. 3. Market place where buyers and sellers participate in the trade. 4. The use of goods and services to satisfy human wants directly . 5. Refers to quantity of goods that a seller is willing to offer for sale. 6. Something that is intangible, such as, it is not easy to measure , quantifiable goods are subject to measurement. 7. A good that can be used in place of some other good. 8. The most democratic form of economic system. 9. Refers to the combined utility derived from consuming certain units of a good. 10. An economics concept that measures responsiveness of one variable to changes in another variable