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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. supply curve upward sloping because of
1. Objectives of business are to responsible to
2. Consumers expect the price of good to decrease soon.
3. factors affecting supply are prices of factors of production,
4. Law of demand states that ceteris paribus,
5. Prices of relaled goods affecting demand are
6. Law of supply states that ceteris paribus,
7. A supply surve shows ceteris paribus,
8. Assuming a rise of price of beef, supply of beef increased.
9. Theory of supply due to scarcity %26 limited resources, suppliers
10. if there is mad cow disease.The supply of beef decrease.
11. Prices of relaled goods affecting supply are
12. Basic determinants of demand are
13. Busness refers to all activities that arerelated to the
14. Economic is a social science to study
15. shape of demand curve downward sloping because of

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