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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. shape of demand curve downward sloping because of
1. Law of demand states that ceteris paribus,
2. A supply surve shows ceteris paribus,
3. Basic determinants of demand are
4. factors affecting supply are prices of factors of production,
5. if there is mad cow disease.The supply of beef decrease.
6. Prices of relaled goods affecting demand are
7. Objectives of business are to responsible to
8. Assuming a rise of price of beef, supply of beef increased.
9. Prices of relaled goods affecting supply are
10. Law of supply states that ceteris paribus,
11. Busness refers to all activities that arerelated to the
12. supply curve upward sloping because of
13. Factos affecting demand can be income, taste %26 preference,
14. As population increase, demand will increase.
15. Economic is a social science to study

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