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of 34 available terms

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5 Written Questions

5 Matching Questions

  1. which term refers to the government-set maximum price that can be charged for goods and services
  2. according to the--- quantity demanded and price move in opposite directions
  3. which term refers to the various quantities of a good or service that producers are willing to sell at all possible market prices
  4. some products are ----, meaning that they are used together
  5. term that describes the table that lists the quantities of a product or service over a range of possible prices
  1. a price ceiling
  2. b law of demand
  3. c compliments
  4. d supply
  5. e demand schedule

5 Multiple Choice Questions

  1. supply elasticity
  2. inelastic
  3. schedule
  4. productivity
  5. diminishing marginal

5 True/False Questions

  1. demand is---- when a change in price causes a relatively larger change is quantity demandedinelastic


  2. ----is the money a business receives for its productssupply


  3. a----demand curve is a graph that lists prices on the vertical axis and quantities on the horizontal axisdemand curve


  4. what is the term for the principle that suppliers will normally offer more for sale at higher prices and less at lower priceslaw of supply


  5. companies are interested int eh----, or the total demand of all consumers for theur product of servicesubstitutions


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