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3 Written questions

3 Multiple choice questions

  1. to rely on others, and others rely on them, to provide the goods and services that we consume, a reliance on others, as they rely on you, to provide goods and services to be consumed
  2. goods that can be used in place of other goods (Colgate/Crest, Toyota/Honda)
  3. the price at which the amount supplied is equal to the amount demanded

3 True/False questions

  1. supply and demandgoods that can be used in place of other goods (Colgate/Crest, Toyota/Honda)

          

  2. equilibriumthe point at which quantity demanded and quantity supplied are equal

          

  3. microeconomicsthe branch of economics that studies the economy of consumers or households or individual firms