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3 Written questions

3 Multiple choice questions

  1. the price at which the amount supplied is equal to the amount demanded
  2. a market in which products are sold by firms and bought by households
  3. A measure of the sensitivity of demand to changes in price

3 True/False questions

  1. microeconomicsA measure of the sensitivity of demand to changes in price

          

  2. medium of exchangeanything that is generally accepted as a standard of value and a measure of wealth in a particular country or region

          

  3. equilibriuma market in which products are sold by firms and bought by households

          

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