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EOB UNIT 1 pairing

Author: Baey See Hion
Description: Match each term with its correct definition.
Keywords: , , , , , , online teaching

Content:
Definitions:
0. Objectives of business are to responsible to
1. Economic is a social science to study
2. Prices of relaled goods affecting demand are
3. Law of demand states that ceteris paribus,
4. Factos affecting demand can be income, taste %26 preference,
5. Theory of supply due to scarcity %26 limited resources, suppliers
6. Prices of relaled goods affecting supply are
7. Law of supply states that ceteris paribus,
8. Assuming a rise of price of beef, supply of beef increased.
9. shape of demand curve downward sloping because of
10. factors affecting supply are prices of factors of production,
11. Busness refers to all activities that arerelated to the
12. As population increase, demand will increase.
13. Consumers expect the price of good to decrease soon.
14. A demand curve shows ceteris paribus, the
15. Basic determinants of demand are

Answers:
0. The supply curve of hike will shift to the right.
1. price of related goods and consumers%27 expectations.
2. Substitutes and complements.
3. consumers will %26 able to buy at various price in a period of time.
4. Technology, prices of related goods, weather, num of sellers.
5. substitution effect %26 income effect.
6. production increased, cost to make also increased.
7. produce %26 distribute of goods %26 services to make profit.
8. make choices to maximise profit with their limited resources.
9. Desirability and affordability.
10. the relationship between the qty supplied of a good %26 its price.
11. the higher price of good, the greater the quantity supplied.
12. competitive supply and joint supply.
13. The higher the price of a good, the lower the demand of it.
14. relationship between the qty demanded and its price.
15. owner, employees and society.
.