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EOB UNIT 1 pairingAuthor: Baey See Hion
Description: Match each term with its correct definition.
Keywords: , , , , , , online teaching
0. Theory of demand refers to different qty that ceteris paribus
1. Objectives of business are to responsible to
2. Theory of supply due to scarcity %26 limited resources, suppliers
3. Law of demand states that ceteris paribus,
4. shape of demand curve downward sloping because of
5. Basic determinants of demand are
6. Law of supply states that ceteris paribus,
7. As population increase, demand will increase.
8. Prices of relaled goods affecting supply are
9. Prices of relaled goods affecting demand are
10. Factos affecting demand can be income, taste %26 preference,
11. Economic is a social science to study
12. A demand curve shows ceteris paribus, the
13. Consumers expect the price of good to decrease soon.
14. factors affecting supply are prices of factors of production,
15. if there is mad cow disease.The supply of beef decrease.
0. consumers will %26 able to buy at various price in a period of time.
1. make choices to maximise profit with their limited resources.
2. owner, employees and society.
3. substitution effect %26 income effect.
4. people allocate scarce resourses for unlimited wants.
5. Technology, prices of related goods, weather, num of sellers.
6. Substitutes and complements.
7. The demand curve will shift to the right.
8. The demand curve will shift to the left.
9. relationship between the qty demanded and its price.
10. The supply curve of hike will shift to the right.
11. the relationship between the qty supplied of a good %26 its price.
12. Desirability and affordability.
13. The supply curve of hike will shift to the left.
14. produce %26 distribute of goods %26 services to make profit.
15. competitive supply and joint supply.