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

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