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5 Written questions

4 Matching questions

  1. some products are ----, meaning that they are used together
  2. higher----mean higher costs, which cause a decrease in supply
  3. term that describes the table that lists the quantities of a product or service over a range of possible prices
  4. ----and demand work together to set prices
  1. a compliments
  2. b supply
  3. c demand schedule
  4. d taxes

5 Multiple choice questions

  1. elastic
  2. price
  3. law of demand
  4. elastic
  5. substitutions

5 True/False questions

  1. a----is a government minimum price that can be charged for goods and servicesprice floor


  2. a----is the amount by which the quantity demanded is higher than quantity suppliedsurplus


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


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


  5. which term describes the combination of supply schedules for all businesses that provide the same good or servicemarket supply