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EOB UNIT 1 pairingAuthor: Baey See Hion
Description: Match each term with its correct definition.
Keywords: , , , , , , online teaching
0. supply curve upward sloping because of
1. A demand curve shows ceteris paribus, the
2. A supply surve shows ceteris paribus,
3. Theory of supply due to scarcity %26 limited resources, suppliers
4. Consumers expect the price of good to decrease soon.
5. if there is mad cow disease.The supply of beef decrease.
6. Theory of demand refers to different qty that ceteris paribus
7. Economic is a social science to study
8. Factos affecting demand can be income, taste %26 preference,
9. Prices of relaled goods affecting demand are
10. Busness refers to all activities that arerelated to the
11. shape of demand curve downward sloping because of
12. Assuming a rise of price of beef, supply of beef increased.
13. factors affecting supply are prices of factors of production,
14. Objectives of business are to responsible to
15. Basic determinants of demand are
0. Technology, prices of related goods, weather, num of sellers.
1. produce %26 distribute of goods %26 services to make profit.
2. consumers will %26 able to buy at various price in a period of time.
3. substitution effect %26 income effect.
4. people allocate scarce resourses for unlimited wants.
5. The demand curve will shift to the right.
6. the relationship between the qty supplied of a good %26 its price.
7. competitive supply and joint supply.
8. The higher the price of a good, the lower the demand of it.
9. The supply curve of hike will shift to the left.
10. Substitutes and complements.
11. The supply curve of hike will shift to the right.
12. make choices to maximise profit with their limited resources.
13. price of related goods and consumers%27 expectations.
14. the higher price of good, the greater the quantity supplied.
15. owner, employees and society.