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5 Written questions

5 Matching questions

  1. ----is the money a business receives for its products
  2. ----items generally have an elastic demand
  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. a----is the amount by which the quantity supplied is higher than the quantity demanded
  5. higher----mean higher costs, which cause a decrease in supply
  1. a supply
  2. b taxes
  3. c expensive
  4. d surplus
  5. e profit

5 Multiple choice questions

  1. shortage
  2. subsity
  3. elastic
  4. supply curve
  5. compliments

5 True/False questions

  1. ----utility is the principle that additional satisfaction decreases as more units are consumedlaw of supply

          

  2. competing products are called---- because consumers can use one i place of the othersubstitutions

          

  3. term that describes the table that lists the quantities of a product or service over a range of possible pricesdemand schedule

          

  4. demand for a good in a particular market area is related to the number of---- in the areaconsumers

          

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